ABB India Limited has received a significant customs penalty order from the Bangalore customs office, totaling Rs 17.01 crore in penalties and fines. The company disclosed this development to stock exchanges on February 24, 2026, under regulatory compliance requirements.

Penalty Details and Charges

The Office of the Principal Commissioner of Customs, Airport & Air Cargo Commissioner, Devanahalli, Bengaluru, issued the order imposing substantial financial penalties on ABB India. The order includes two components of financial liability:

The penalties have been imposed under sections 28(4) and 125 of the Customs Act, 1962, respectively.

Nature of Alleged Violations

The customs order relates to alleged mis-declaration of goods value and contravention of provisions under the Customs Act, 1962. The company received the order dated February 23, 2026, at 1:20 PM on the same day, indicating prompt communication from the customs authorities.

Company's Response and Legal Strategy

ABB India has outlined its response strategy following the customs order. The company's assessment indicates confidence in challenging the penalties through available legal channels:

• Appeal Process: The company will file an appeal against the customs order
• Expected Outcome: Management expresses optimism about achieving a favorable result at the appellate level
• Financial Impact: The company does not reasonably expect the order to have material impact on operations

Regulatory Compliance and Disclosure

The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary and Compliance Officer Trivikram Guda signed the regulatory filing, ensuring compliance with mandatory disclosure requirements for material events.

The company explained that the delay in disclosure was due to the need to analyze the likely impact, assess available appeal avenues, and determine the appropriate course of action before informing the stock exchanges.

ABB India Limited has submitted its Annual Secretarial Compliance Report for the financial year ended December 31, 2025, to both BSE Limited and National Stock Exchange of India Limited. The report was filed on February 24, 2026, by Company Secretary and Compliance Officer Trivikram Guda, fulfilling the requirements under Regulation 24A of SEBI Listing Regulations.

Audit Scope and Methodology

The secretarial audit was conducted by S. N. Ananthasubramanian & Co. Company Secretaries, led by Managing Partner S. N. Viswanathan. The audit examined all relevant documents, records, filings, and submissions made by the company during the review period. The examination covered compliance with provisions of the Securities and Exchange Board of India Act, 1992, and the Securities Contracts (Regulation) Act, 1956, along with associated regulations and guidelines.

Compliance Status Assessment

The audit report confirms that ABB India Limited has complied with all applicable SEBI regulations and circulars during the financial year 2025. The company demonstrated full adherence to secretarial standards issued by the Institute of Company Secretaries of India, as mandated under the Companies Act, 2013.

Key Compliance Areas

The report highlights several critical compliance areas where the company maintained exemplary standards:

• Policy Framework: All applicable policies under SEBI regulations were adopted with Board approval and updated timely as per regulatory requirements
• Website Maintenance: The company maintained a functional website with timely dissemination of documents and accurate web-links in corporate governance reports
• Director Qualifications: None of the company's directors were disqualified under Section 164 of the Companies Act, 2013
• Subsidiary Management: Proper identification and disclosure of material subsidiary companies was maintained

Regulatory Adherence Details

The comprehensive audit covered multiple aspects of regulatory compliance, with the company achieving full adherence across all examined areas.

Audit Findings and Conclusions

The secretarial audit revealed no deviations, violations, or non-compliance issues during the review period. Annexure A of the report, which typically lists compliance deviations, showed "NIL" entries, indicating clean regulatory adherence. Similarly, Annexure B, covering actions taken on previous observations, also reported no outstanding issues.

The audit confirmed that ABB India Limited has established adequate systems for ensuring compliance with SEBI regulations and that these systems are operating effectively. The company's commitment to regulatory compliance is evident from the comprehensive nature of adherence across all examined regulatory frameworks.

The report was signed on February 19, 2026, in Thane, with ICSI UDIN F013685G003959981, providing formal certification of the company's exemplary compliance record for the financial year 2025.