NSE/BSE Codes: SYMBOL: GROBTEA, SCRIP CODE: 017201

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure pursuant to Regulation 30(3) read with Regulation 30(4)(i)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Para B(8) of Part A of Schedule III thereto. The disclosure pertains to the pendency of litigation/arbitration proceedings and is made due to the matter meeting quantitative materiality thresholds.

Involved Parties / Authorities:

  • Opposing Party: Larica LED Products Private Limited
  • Adjudicating Authorities: Hon'ble High Court at Calcutta (for appointment of Arbitrator), Arbitral Tribunal (with Mr. Mainak Bose, Senior Advocate, as Sole Arbitrator), Hon'ble National Company Law Tribunal (NCLT), Kolkata
  • Regulator: National Stock Exchange of India Limited, The Calcutta Stock Exchange Limited

Date / Timeline of Event:

  • Date of Announcement: 12.11.2026
  • Initiation of Arbitration Proceedings (Section 11(6) application): 12.11.2025
  • Appointment of Arbitrator by High Court: 24.09.2025 (Order in A.P. (COM) 728 of 2025)
  • Filing of NCLT Petition by Larica: 21.07.2025 (CP/181/2025)
  • Consortium Agreement Date: 30.01.2019, renewed on 01.02.2022

Brief Description of Outcome / Dispute:

Disputes arose between The Grob Tea Company Limited and Larica LED Products Private Limited under a Consortium Agreement dated 30.01.2019 (renewed 01.02.2022). The agreement required Larica to supply products to Grob Tea for onward supply to Public Sector Undertakings. A sum of ₹2,25,67,364/- (Rupees Two Crore Twenty-Five Lakh Sixty-Seven Thousand Three Hundred Sixty-Four only) is due and payable by Larica LED Products Private Limited to The Grob Tea Company Limited against payments made and goods supplied.

Impact of Outcome:

Financial Impact:
  • The company is pursuing a claim for recovery of ₹2,25,67,364/- in the arbitration proceedings.
  • The financial implications shall depend upon the outcome of the proceedings. No provision or contingency amount is disclosed.
Operational / Business / Strategic Impact:
  • The dispute involves business operations related to supplying products to Public Sector Undertakings.
  • The company acknowledges an inadvertent omission in its internal identification and escalation process for material litigation, leading to delayed disclosure.
  • The company is strengthening its internal reporting and monitoring mechanism to ensure timely identification and disclosure of material events.
Other Implications:
  • The disclosure is made to maintain transparency and compliance with SEBI LODR Regulations.
  • The delayed disclosure may have regulatory compliance implications, though the company has proactively corrected the omission.

Next Steps / Required Actions:

  • The arbitration proceedings before the Sole Arbitrator (Mr. Mainak Bose) are pending, with both parties having filed their Statement of Claim, Statement of Defence, Rejoinder, and affidavits of admission/denial of documents.
  • The petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (CP/181/2025) filed by Larica before the NCLT, Kolkata is presently pending and noted as "likely to be dismissed."
  • The company must continue to monitor and disclose material developments in these proceedings as required by SEBI LODR Regulations.