Hyundai fighting tax evasion charges in India

Hyundai Motor India Ltd (HMIL), the largest domestic exporter of cars, and Mobis India Ltd, its parent company’s subsidiary, which imports critical components for HMIL’s manufacturing plants, are facing charges of tax evasion in India, for the period from July 2005 to December 2010. The case calls into question Hyundai’s continued qualification for a favourable customs regime that other international taxpayers also benefit from.