Suzlon subsidiary faces INR7.47 lakh customs penalty

Suzlon Energy (BSE:SUZLON) announced that its subsidiary, Suzlon Global Services Limited (SGSL), has been penalized by the Office of the Commissioner of Customs (Imports), Mumbai. The penalty amounts to INR7.47 Lacs. The order, dated March 25, 2025, includes a redemption fine of INR1,50,000 and a penalty of INR5,96,747. The penalty arises from alleged non-payment of custom duty applicable under Notification No. 42/2017-Cus (ADD) concerning casting parts imported from China. SGSL plans to appeal the order with the appropriate authorities. Suzlon Energy stated that the penalty is not expected to have a material impact on the company's financial, operational, or other activities.