Penalty notice of USD 19,500 issued to indirect wholly owned subsidiary by New York State Workers' Compensation Board
Indirect wholly owned subsidiary Motherson Technology Services USA Limited received a penalty notice of USD 19,500 (about INR 18.67 lakh).
By ScoutQuest · · 1 min read
- Penalty Amount
- USD 19,500 (about INR 18.67 lakh)
- Penalty Issued By
- New York State Workers' Compensation Board, Bureau of Compliance, USA
- Coverage Period Referenced
- December 4, 2024 to January 3, 2026
What was disclosed
Samvardhana Motherson International has informed the stock exchanges of a penalty notice received by its indirect wholly owned subsidiary, Motherson Technology Services USA Limited (MSID USA).
- The notice has been issued by the New York State Workers' Compensation Board, Bureau of Compliance, USA.
- The penalty amount is USD 19,500, equivalent to approximately INR 18.67 lakh.
- The notice was received by MSID USA on October 12, 2026 at 1223 Hours EDT / 2153 Hours IST, and the Company was informed on October 13, 2026 at 1855 Hours IST.
What the notice says
- NYS WCB has notified that MSID USA was required to provide workers' compensation insurance coverage for its employees from December 4, 2024 to January 3, 2026.
- MSID USA will file an appeal with NYS WCB, as it had no employees in New York during that period.
Impact stated by the Company
- According to the disclosure, there is no material impact on the financials, operations or other activities of the Company.
How to read this
This is a compliance-related disclosure about a penalty notice at a subsidiary level. The stated amount is approximately INR 18.67 lakh, and the Company has said the impact is not material to its financials, operations or other activities. The subsidiary intends to appeal the notice. The outcome of that appeal is not part of this disclosure.
Also from Samvardhana Motherson International
Samvardhana Motherson schedules Q2 FY27 earnings conference call for November 5, 2026 at 1700 hrs IST
23 Oct 2026
Board meeting on November 5, 2026 to approve second quarter and half year results
23 Oct 2026
Interest for eight days and fractional entitlements paid to CCD holders who opted for conversion
16 Oct 2026
More numbers
- Penalty amount in US DollarsUSD 19,500
- Penalty amount in Indian Rupees (approx.)INR 18,67,106
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.