Huhtamaki India Penalized ₹10.7 Million for Delayed Property Tax Payment

In a regulatory disclosure, Huhtamaki India Ltd., a leading consumer packaging company, confirmed that it has incurred a penalty of ₹10.7 million (₹1.07 crore) due to delayed payment of property tax. The penalty was imposed by municipal authorities, reflecting strict enforcement of compliance norms for corporate entities.

Huhtamaki India, part of the global Huhtamaki Group, specializes in flexible packaging, labeling, and consumer packaging solutions. While the penalty represents a financial setback, the company remains focused on strengthening its operations and maintaining compliance with statutory obligations.

Industry observers note that such penalties serve as reminders for corporations to prioritize timely tax payments and governance standards, especially in sectors with significant infrastructure and property holdings.

Key Highlights

• Penalty Amount: ₹10.7 million for delayed property tax payment.
• Company: Huhtamaki India Ltd. (HUHT.NS), part of Huhtamaki Group.
• Sector: Consumer packaging and labeling solutions.
• Reason: Delay in municipal property tax compliance.
• Impact: Reinforces importance of corporate governance and timely compliance.

Despite the penalty, Huhtamaki India continues to be a key player in India’s packaging industry, serving FMCG, pharma, and retail sectors with innovative solutions.

Sources: Business Standard; Moneycontrol Markets; Economic Times Corporate Disclosures