Two meteorite fragments collected from the Mukundpura impact site, Rajasthan, India have been analysed using scanning electron microscopy, energy dispersive X-ray spectroscopy, Mössbauer spectroscopy, thermogravimetric analysis (TGA) and Raman spectroscopy. High Fe (22.65 wt%), Ni (1.53%) and S (3.69%) and concentrations of other elements obtained by X-ray analysis indicate that it is a carbonaceous chondrite. Mössbauer spectra show similarity with those obtained from Cold Bokkeveld and Murchison carbonaceous chondrites, and this analogy allows us to classify it as belonging to CM group of carbonaceous chondrites. TGA shows large weight loss, implying presence of significant amount of volatiles in this meteorite and Raman spectroscopy shows the presence of abundant organic matter consisting of disordered and aromatic (graphitic or polyaromatic) carbon. These results indicate that Mukundpura meteorite is a rare type of extraterrestrial object deserving further in-depth studies.