Manali Petrochemicals Limited: Madras High Court disposes of petitions on wage revision
Manali Petrochemicals Limited's writ petitions challenging industrial tribunal awards on wage revision have been disposed of by the Madras High Court. The company is assessing financial and legal implications and will take appropriate steps.
The litigation pertains to wage revision and service conditions of workmen, which can have significant financial and operational implications for the company. The assessment of these implications will determine the actual impact.
The court order has disposed of the petitions, but the financial and legal implications are still under assessment. The outcome is not definitively positive or negative at this stage.
Manali Petrochemicals Limited has announced that the Hon'ble Madras High Court has disposed of Writ Petitions (W.P. Nos. 5850, 5851 of 2016 and 2731 of 2023). These petitions were filed challenging awards passed by the Industrial Tribunal, Chennai, concerning wage revision and service conditions of workmen.
The Company received a common order dated 25th March 2026 on 31st March 2026. The financial and legal implications of this order are currently being assessed in consultation with the Company's legal counsel. Manali Petrochemicals Limited will take appropriate steps as advised and will keep the stock exchanges informed of any material developments.
This announcement is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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