Nestlé India has been slapped with a penalty of Rs. 69.45 lakh by the Commissioner of Customs (Appeals) in Mumbai following a customs duty dispute. The ruling upheld an earlier decision by the Deputy Commissioner of Customs, demanding the same amount as both duty and penalty.
In a regulatory filing, Nestle India stated that the order was issued under Section 28 (4) and Section 28AA of the Customs Act, 1962, and was received on March 25, 2025. While the company plans to explore legal options to contest the ruling, it emphasized that the penalty would not significantly impact its financials or operations.
Meanwhile, earlier this month, Nestle India also received a warning letter from SEBI regarding an alleged insider trading violation involving a senior company official. While the identity of the individual was not disclosed, Nestle India clarified that the matter would have no material impact on its business performance.
The company has assured stakeholders that both issues are being managed in line with regulatory requirements, with no anticipated disruption to operations.