Nature of the Event
Mafatlal Industries Limited has made a disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically under sub-para 20 of Para A of Part A of Schedule III. The disclosure intimates the receipt of a notice from a regulatory authority.
Key Quantitative Figures
The Central Ground Water Authority (CGWA) has directed the company to pay an environmental compensation amounting to ₹8.63 crore.
Dates of Action
The notice from the CGWA was received by the company on 9th June 2026. The disclosure letter to the exchange is dated 10th June 2026.
Parties or Entities Involved
The notice was issued by the Central Ground Water Authority (CGWA). The matter pertains to the company's unit located in Nadiad, Gujarat.
Details of the Alleged Violation
The CGWA has observed that the company filed an online application for the issuance of a No Objection Certificate (NOC) after the prescribed timeline stipulated under the applicable guidelines. This delay is stated to attract environmental compensation.
Financial or Operational Impact
The company has stated that it does not anticipate any material impact on its financials, operations, or other activities arising from this matter. The only potential financial impact disclosed is the possible creation of a contingent liability in the financial statements, if required under the applicable accounting standards.
Company's Response and Stated Rationale
The company is examining the notice and is in the process of availing all appropriate remedies available under law. This includes making further representations before the CGWA and pursuing necessary legal remedies to contest and defend the matter.