Mahindra & Mahindra Limited has received an order from the Assistant Commissioner, Customs, Group-5, New Delhi-110037 imposing a penalty u/s 114A of the Customs Act, 1962 amounting to INR 164,307/- in relation to the alleged short payment of Integrated Goods and Service Tax (`IGST') on imports of pumps under Customs Act, 1962. Based on the Company's assessment, an appeal may be filed, and the Company is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 26th June 2024 has been received by the Company on 01st July 2024 around 03:30 P.M.