Key Details
- Date of Disclosure: 02 September 2026
- Regulatory Reference: SEBI LODR Regulations, Regulation 30
Event Description
The Company received an electronic notification from the Hon'ble National Company Law Tribunal - Ahmedabad Bench (NCLT) on 02 September 2026 regarding the filing of petition(s) by Mrs. Nivedita Ritesh Oswal & ANR against the company, its board of directors and Key Managerial Personnel.
Legal Proceedings Details
- Opposing Party: Mrs. Nivedita Ritesh Oswal & ANR
- Tribunal: NCLT - Ahmedabad Bench
- Legal Basis: Application filed under Section 244(1) of the Companies Act, 2013 seeking waiver of eligibility requirements
- Purpose: To pursue proceedings under Sections 241 and 242 of the Companies Act, 2013
- Subject Matter: The petition is in connection with the postal ballot process undertaken by the Company and voting results thereof. The petitioners seek certain reliefs in connection therewith, including interim reliefs in relation to the proposed placement of certain resolutions before the Members at the ensuing Annual General Meeting.
Company's Position
The Company is of the considered view that the application is devoid of merit and does not disclose any sustainable basis for the reliefs sought. The Company does not expect the application to succeed before the Hon'ble NCLT.
Financial Implications
- The Company does not envisage any material financial impact arising from the aforesaid application at present.
- The financial impact, if any, cannot presently be ascertained.
- Quantum of claims: Not Applicable
Future Actions
The Company will place the relevant facts and submissions before the Hon'ble NCLT and take all appropriate steps in accordance with applicable law. The company shall continue to monitor the matter and make further disclosures as required under applicable regulations upon occurrence of material developments.