Honasa Consumer Limited: Dubai Court Upholds AED 4.43 Cr Award Against Company, Rejects RSM's Higher Claim
The Dubai Cassation Court upheld a previous judgment awarding AED 1,707,407.06 (₹4.43 crore) to RSM for damages, dismissing both parties' appeals. RSM's higher claim of AED 45,000,000 was rejected. An Indian Arbitral Tribunal had previously ruled in Honasa's favor, and the company expects no financial impact.
The company has stated that it expects no financial impact due to prior arbitration awards in its favor, and the awarded amount is significantly less than what the counterparty had claimed.
While the company's higher claim was rejected, the awarded amount is significantly less than what RSM sought, and an Indian arbitration award favors Honasa, leading to an expectation of no financial impact. The outcome is mixed, hence neutral.
Honasa Consumer Limited has received a judgment from the Cassation Court in Dubai, UAE, dated July 29, 2026, which was received on August 07, 2026. The Cassation Court dismissed appeals filed by both Honasa Consumer Limited and RSM General Trading LLC.
The court upheld the February 11, 2026 judgment from the Court of Appeals, which awarded AED 1,707,407.06 (approximately ₹4.43 crore) to RSM as compensation for material and moral damages. Notably, RSM's appeal for damages amounting to AED 45,000,000 was rejected by the Cassation Court.
This development follows an Arbitral Award dated May 14, 2025, as amended on June 26, 2026, by the Indian Arbitral Tribunal appointed by the Supreme Court of India. The Arbitral Award was in favor of Honasa Consumer Limited, permanently injuncting RSM from pursuing proceedings in Dubai courts and directing RSM to pay damages to Honasa Consumer Limited. Based on these reliefs, the company anticipates no financial impact from the Dubai court's judgment.
Furthermore, under the Civil Procedure Code, 1908, the Cassation Court judgment may not be conclusive as the governing law of the agreement is Indian law, and disputes are subject to arbitration or exclusive jurisdiction of New Delhi courts.
What to do with a filing like this
Honasa Consumer Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Honasa Consumer Limited. Read the original for the full detail.