Key Quantitative Figures
The insurance claim has been fully settled by Tata AIG General Insurance Company Limited for a total amount of ₹11,33,77,477 (Rupees Eleven Crores Thirty-Three Lakhs Seventy-Seven Thousand Four Hundred and Seventy-Seven Only).
Dates of Action
The settlement disclosure was made on July 31, 2026. The fire incident was previously intimated on January 18, 2024, and plant resumption was intimated on November 28, 2024.
Parties Involved
- Fine Organic Industries Limited (listed entity)
- Tata AIG General Insurance Company Limited (insurer)
Purpose/Rationale
The settlement is for property damage including inventory and loss of profit resulting from a fire incident that occurred at a plant adjoining the Company's manufacturing facility situated at Plot No. W-124-A, Khervai, Badlapur (East), Maharashtra.
Financial Impact
The insurance settlement of ₹11,33,77,477 has been accepted as full and final settlement against the claim.
Operational Impact
The fire was successfully contained within a minimal timeframe, but operations of the said plant were temporarily disrupted. The company resumed plant manufacturing activities by November 28, 2024. There has been no material/significant adverse impact due to the incident.
Additional Details
- No loss to human life occurred during the incident
- The company initiated all adequate steps to ensure refunctioning of the plant
- The settlement has been accepted as full and final
#Tags: #FineOrganicIndustries #InsuranceSettlement #SEBIDisclosure #RegulatoryCompliance #Positive