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Eicher Motors Gets INR16 Million Demand Order from Customs Office in Kolkata, India

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Eicher Motors (NSE:EICHERMOT, BOM:505200) has received a demand order worth 16.4 million Indian rupees from the Office of the Principal Commissioner of Customs in Kolkata, West Bengal, India, according to a Thursday filing to the Indian stock exchanges.

The demand relates to preferential tariff exemption claimed by the company on import of goods for one shipment in 2020.

As per the agrimachinery and tractor company's assessment, the demand by the customs office is not maintainable and that it is evaluating all options including filing an appeal against the order.

Eicher doesnt' expect any relevant impact on financials, operations or other activities of the company due to this order.

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