NSE/BSE Codes: BSE: 509496, NSE: CEMPRO
Summary of Key Information:
Nature of Event / Disclosure:
Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding withdrawal of Execution Petition filed before Delhi High Court to enforce an arbitration award.
Involved Parties / Authorities:
- Opposite Parties: Baya Weaver Ltd. and Saya Cementation Ltd.
- Court: Hon'ble Delhi High Court
- Arbitration Center: Delhi International Arbitration Centre
Date / Timeline of Event:
- Arbitration Award Received: 25th August, 2023
- Execution Petition Filed: 9th December, 2024
- Execution Petition Withdrawn: Order communicated on 23rd September, 2026 at 18:53 hours IST
- Disclosure Date: 24th September, 2026
Brief Description of Outcome / Dispute:
The company had received an arbitration award on 25th August, 2023 under the aegis of Delhi International Arbitration Centre in respect of contractual disputes totaling Rs 4.71 crores approximately plus interest thereon. The company subsequently filed an Execution Petition on 9th December, 2024 before Delhi High Court to enforce this award against Baya Weaver Ltd and Saya Cementation Ltd. The company has now withdrawn this Execution Petition with liberty to file the same afresh.
Impact of Outcome:
Financial Impact:
There is no material financial impact on the Company as stated explicitly in the disclosure.
Operational / Business / Strategic Impact:
No material operational, business, or strategic impact disclosed. The withdrawal provides the company with liberty to file the execution petition afresh in due course.
Other Implications:
No reputational, legal, regulatory, or market perception effects explicitly stated in the document.
Next Steps / Required Actions:
The company shall file an execution petition in due course, having received liberty to do so from the Hon'ble Delhi High Court.