By: IPP Bureau
Last updated : August 26, 2026 9:00 am
The company said it intends to challenge the order through the appropriate appellate process
Wockhardt Limited has disclosed that customs authorities have imposed penalties totalling Rs. 16 crore in connection with the alleged misclassification of an Active Pharmaceutical Ingredient (API) exported by the company.
Wockhardt said it intends to challenge the order through the appropriate appellate process.
The company said it received an adjudication order from the Commissioner of Customs, Nhava Sheva-II, Jawaharlal Nehru Custom House (JNCH), on August 21, 2026.
The disclosure was made to the BSE and NSE on August 25 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to the order, Wockhardt Limited has been fined Rs. 5 crore under Section 114(iii) of the Customs Act, 1962. The customs authority has also imposed a redemption fine of Rs. 10 crore under Section 125(1) in lieu of confiscation of the allegedly mis-declared API goods.
In addition, Dr. Aravind Y. Merwade, a company officer, has been imposed a penalty of Rs. 1 crore under Section 114(iii) of the Customs Act.
The case relates to an allegation that an API exported by Wockhardt was incorrectly classified for customs purposes.
The adjudication order follows proceedings by the Nhava Sheva customs authorities concerning the classification and declaration of the exported pharmaceutical ingredient.
Wockhardt said it is confident in the merits of its case and will take the necessary steps to appeal the order before the appropriate authority.
The company also said that, apart from the monetary penalties, the order is not expected to have any material impact on its financial position, operations or other business activities.
Wockhardt's regulatory filing also noted that the disclosure was made after a delay due to what the company described as an inadvertent administrative oversight.