A subsidiary of Samvardhana Motherson International Limited has received a penalty of ₹5.7 million from the Finanzamt Karlsruhe tax authorities in Germany. The penalty relates to regulatory compliance issues, with the company committing to appeal and ensure transparency during the process.
Samvardhana Motherson International Limited disclosed that one of its indirect subsidiaries has been imposed a penalty of approximately ₹5.7 million by the Finanzamt Karlsruhe tax authorities in Germany. The penalty pertains to compliance matters identified during a regulatory review.
This action relates to a period prior to the acquisition by Samvardhana Motherson, when the business was under previous ownership. The company emphasized there is no material impact expected on financial or operational performance from this penalty.
Samvardhana Motherson intends to engage with the relevant parties and legal advisors to contest and seek amicable resolution of the matter, ensuring adherence to regulatory standards.
The company continues maintaining high governance and compliance standards across its global operations, and is committed to transparency with investors and stakeholders during ongoing tax and regulatory assessments in various jurisdictions.
Key Highlights
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Subsidiary faced ₹5.7 million penalty by Finanzamt Karlsruhe (German tax authority) for historical compliance issues.
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The penalty relates to periods before acquisition by Samvardhana Motherson International Limited.
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No material financial or operational impact anticipated from the penalty.
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Company committed to contesting the penalty through legal and advisory channels.
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Reflects Samvardhana Motherson’s transparency and governance in cross-border regulatory matters.
Sources: Samvardhana Motherson official SEBI filings, German tax authority disclosures.