ZF Commercial Vehicle Control Systems India Limited, a leading player in the commercial vehicle technology sector, has received a significant customs demand from Chennai authorities. The company, however, maintains that the classification in question was correct and intends to challenge the order.

Customs Demand Details

The Office of the Principal Commissioner of Customs (Air Cargo), Chennai has issued an order to ZF Commercial Vehicle Control Systems India, imposing a demand of INR 21,06,40,522.00 plus applicable interest. Additionally, a penalty of an equal amount has been proposed. The order was received by the company on July 31 via email.

Alleged Classification Discrepancy

The crux of the issue lies in the alleged incorrect classification of imported parts and components related to Anti-lock braking systems and Air braking systems. The customs authorities claim that this misclassification has resulted in a differential duty that needs to be paid.

Company's Stance

ZF Commercial Vehicle Control Systems India has stated that it believes its classification of the imported parts was correct. The company has expressed its intention to dispute the demand, indicating a potential legal challenge to the customs order.

Financial Impact

Despite the substantial amount involved, the company has asserted that the order has no material impact on its financials, operations, or other activities. This statement suggests that ZF Commercial Vehicle Control Systems India is well-positioned to handle the potential financial implications of the dispute.

Upcoming Financial Results

In a separate announcement, the company has scheduled an earnings call to discuss its financial performance for the first quarter ended June 30. The conference call, organized by Batlivala & Karani Securities India Private Limited, is set for August 14, at 14:30 hours IST. This upcoming discussion may provide further insights into the company's financial standing and its ability to manage challenges such as the customs demand.

ZF Commercial Vehicle Control Systems India Limited (ZFCVINDIA) has announced a significant addition to its senior management team. K Inbarajan has been appointed as the new Head - Legal, effective July 30, 2025, bringing over two decades of legal expertise to the company.

Key Appointment Details

Professional Background

K Inbarajan joins ZF Commercial Vehicle Control Systems India with an impressive track record in the legal field. His extensive experience spans various crucial areas:

• Legal drafting
• Contract management
• Arbitration and litigation
• Mergers and Acquisitions (M&A)
• Compliance
• Corporate advisory

Previous Experience

Prior to this appointment, Inbarajan held the position of General Manager – Legal at KONE Elevator India Pvt. Ltd. In this role, he was responsible for:

• Leading legal compliance initiatives
• Managing contracts
• Overseeing dispute resolution

His career also includes senior legal positions at notable companies such as:

• SIVA Industries
• VGN Developers
• SAAG RR Infra

Educational Qualifications

Inbarajan brings a strong educational background to his new role:

• LLM in Contracts
• BL in Law
• MBA in Human Resource Development
• B.Sc. in Computer Science

Company Statement

The appointment was officially announced by ZF Commercial Vehicle Control Systems India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Muthulakshmi M, Company Secretary, confirmed the appointment in a formal communication to the BSE Limited and the National Stock Exchange of India Ltd.

About ZF Commercial Vehicle Control Systems India Limited

ZF Commercial Vehicle Control Systems India Limited, formerly known as WABCO INDIA Limited, is a key player in the commercial vehicle industry. The company is listed on both the BSE and the National Stock Exchange of India.