UNO Minda Subsidiary Receives Penalty Order of ₹1.05 Crore
Minda Storage Batteries Private Limited (MSBPL), a wholly-owned subsidiary of UNO Minda Limited, has received a penalty order from the Office of the Principal Commissioner, Central GST Commissionerate...
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Why is UNO Minda Limited in the news today?
UNO Minda Limited (UNOMINDA) is in the news due to the company has received a penalty order, which is typically negative. however, the company intends to contest it and does not foresee any material impact, thus balancing the sentiment to neutral.
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UNO Minda Subsidiary Receives Penalty Order of ₹1.05 Crore
December 31, 2025, 11:25 AM
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Minda Storage Batteries Private Limited (MSBPL), a wholly-owned subsidiary of UNO Minda Limited, has received a penalty order from the Office of the Principal Commissioner, Central GST Commissionerate, Dehradun.
The order, issued under the provisions of the CGST Act, 2017 and UKGST Act, 2017 for FY 2023-24, pertains to excess Input Tax Credit (ITC) claimed. MSBPL has been directed to pay a penalty amount of ₹1,04,88,574/-
The order was received by MSBPL on December 30, 2025, around 11:50 P.M. (IST).
MSBPL intends to contest the order based on the merits of the case. UNO Minda Limited does not foresee any material impact on its financial, operational, or other activities as a result of this penalty.
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