Document Context

Forbes & Company Limited (Scrip Code: 502865) provides a regulatory disclosure under Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure is in continuation of their earlier intimation dated February 05, 2025 regarding Supreme Court proceedings concerning The Svadeshi Mills Company Limited.

Court Order Details

The Hon'ble High Court of Judicature at Bombay pronounced its Order dated September 02, 2026 (received by the company on September 4, 2026) regarding the revival of The Svadeshi Mills Company Limited ("Svadeshi"). The company has applied for a certified true copy of the Order.

The High Court has:

  • Set aside the Judgment dated February 23, 2026 read with Order dated February 27, 2026 passed by the Learned Single Judge
  • Allowed the appeal concerning the revival of Svadeshi
  • Disposed of the connected appeals, including the appeal filed by Forbes & Company
  • Accepted the revival proposal for Svadeshi
  • Observed that the revival would be conducive and not detrimental to commercial morality and the interests of the public at large

Shareholding and Implications

Forbes & Company holds approximately 22.70% equity shareholding in Svadeshi. The company is presently evaluating the implications of the Judgment.

Disclosure Timing

The disclosure is being made with a delay, which was described as inadvertent and occurred due to the time taken for internal legal review of the Judgment and assessment of its implications and applicable disclosure requirements under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Regulatory Compliance Details

The disclosure is made in compliance with Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Financial Impact Assessment

As per the annexure included with the disclosure, the company does not envisage any impact on financials, operations or other activities of the company that is quantifiable in monetary terms.

Authority Details

  • Name of Authority: Hon'ble High Court of Judicature at Bombay
  • Date of receipt of order: September 4, 2026
  • Nature of violations/contraventions: Not applicable (NA)