Company Update
Company Update
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you about civil suit filed by Artech International Private Limited against the Company before High Court of Calcutta. Artech International Private Limited was appointed as Distributor of the Company through execution of Distributor Agreement(s). The Company vide notice dated 8 May, 2026 terminated Distributor Agreement(s) w.e.f. 7 July, 2026 by giving 60 days notice. Artech International Private Limited has filed civil suit before High Court of Calcutta challenging termination notice dated 8 May, 2026 and alternatively, claimed damages to the tune of approx. Rs 107.86 crore. The matter was heard on 29 May, 2026 by vacation bench of High Court of Calcutta. The Company has raised the point about maintainability of civil suit. The Company at this stage does not expect any financial implications. You are requested to take note of the above.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you about civil suit filed by Artech International Private Limited against the Company before High Court of Calcutta. Artech International Private Limited was appointed as Distributor of the Company through execution of Distributor Agreement(s). The Company vide notice dated 8 May, 2026 terminated Distributor Agreement(s) w.e.f. 7 July, 2026 by giving 60 days notice. Artech International Private Limited has filed civil suit before High Court of Calcutta challenging termination notice dated 8 May, 2026 and alternatively, claimed damages to the tune of approx. Rs 107.86 crore. The matter was heard on 29 May, 2026 by vacation bench of High Court of Calcutta. The Company has raised the point about maintainability of civil suit. The Company at this stage does not expect any financial implications. You are requested to take note of the above.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you about civil suit filed by Artech International Private Limited against the Company before High Court of Calcutta. Artech International Private Limited was appointed as Distributor of the Company through execution of Distributor Agreement(s). The Company vide notice dated 8 May, 2026 terminated Distributor Agreement(s) w.e.f. 7 July, 2026 by giving 60 days notice. Artech International Private Limited has filed civil suit before High Court of Calcutta challenging termination notice dated 8 May, 2026 and alternatively, claimed damages to the tune of approx. Rs 107.86 crore. The matter was heard on 29 May, 2026 by vacation bench of High Court of Calcutta. The Company has raised the point about maintainability of civil suit. The Company at this stage does not expect any financial implications. You are requested to take note of the above.