Mahindra & Mahindra Limited informed that the Company has received an order from the Commissioner of Customs, Import, Air Cargo Complex, Mumbai-III imposing a penalty u/s 112A of the Customs Act, 1962 amounting to INR 2,000,000 and redemption fine u/s 125 (1) of the Customs Act, 1962 of INR 50,000,000 against the Company, in relation to the alleged misclassification of certain imported products under Customs Tariff. Based on the Company's assessment, an appeal will 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 04 July 2024 has been received by the Company on 26 July, 2024.

Based on the Company's assessment, an appeal will be filed, and the Company is hopeful of a favorable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company.