Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Nature of the Disclosure
Regulatory disclosure regarding a tax order received by PT. Atsumitec Indonesia, an indirect subsidiary of Samvardhana Motherson International Limited.
Details of the Order
- Issuing Authority: The Directorate General of Taxation, Jakarta Special Regional Office, Ministry of Finance, Indonesia
- Nature of Order: Tax penalty imposed for disallowed expenses during financial year 2021
- Specific Disallowances: Partial royalty expense and SAP license fee expense paid to holding/group company
- Penalty Amount: IDR 14.94 Billion (Indonesian Rupiah fourteen billion and ninety-four million)
- Equivalent Indian Rupee Value: INR 81.25 Million (Indian Rupees eighty-one million and two hundred fifty thousand)
Subsidiary Information
- Entity Affected: PT. Atsumitec Indonesia
- Relationship: Indirect subsidiary of Samvardhana Motherson International Limited
- Acquisition Date: Became part of Motherson Group on March 26, 2025 through acquisition of Atsumitec Group
- Period Covered: Financial year 2021 (prior to acquisition by Motherson Group)
Timeline of Events
- Order Date: September 10, 2026
- Portal Upload Date: September 10, 2026 (uploaded on tax portal of Indonesian Tax Authority)
- Physical Receipt Date: September 15, 2026 (received by post)
- Disclosure Date: September 16, 2026
Basis of Penalty
The penalty was imposed pursuant to Bukper proceedings carried out by Indonesian tax authorities for the financial year 2021.
Financial Impact Assessment
The company explicitly states: "There is no material impact on the financials or on operations or other activities of the Company."