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Samvardhana Motherson International Limited ( (IN:MOTHERSON) ) has issued an announcement.
Samvardhana Motherson International Limited’s indirect subsidiary, Motherson SAS Automotive Modules and Services Argentina S.A., has been penalized by the Agencia de Recaudacion de Control Aduanero for claiming non-compliant tax credits from 2019 to 2023. The penalty, amounting to ARS 56,436,886.20, relates to a period before the company’s acquisition of the business. The company states there is no material impact on its financial or operational activities and plans to address the issue with the seller under indemnity provisions.
More about Samvardhana Motherson International Limited
Samvardhana Motherson International Limited operates in the automotive industry, providing a range of products and services including automotive components and modules. The company has a global presence and focuses on delivering high-quality solutions to automotive manufacturers.
Average Trading Volume: 985,189
Technical Sentiment Signal: Strong Buy
Current Market Cap: 1106.6B INR
Learn more about MOTHERSON stock on TipRanks’ Stock Analysis page.