Shreeji Shipping Global Limited Receives Adverse Communication Regarding Port Handling Agreement with KTLP
Shreeji Shipping Global Limited received communication from the IRP of KTLP stating the CoC did not approve their Port Handling Agreement. The agreement is considered not binding and void ab initio. The Board is examining the matter and will update on further developments.
The nullification of a Port Handling Agreement directly impacts the company's business operations and potential revenue streams, leading to a high impact.
The announcement indicates a significant setback as a previously executed agreement has been deemed non-binding and void by the Committee of Creditors of the counterparty, which is undergoing CIRP.
Shreeji Shipping Global Limited has received a communication dated February 14, 2026, from the Interim Resolution Professional (IRP) of Karanja Terminals and Logistics Private Limited (KTLP). KTLP is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
The communication from the IRP states that the Committee of Creditors (CoC) of KTLP, in its meeting held on February 13, 2026, did not approve the Port Handling Agreement previously executed with Shreeji Shipping Global Limited. The CoC has taken the view that the agreement is not binding on KTLP and is void ab initio.
Shreeji Shipping Global Limited notes that the agreement was executed by the authorized signatory of KTLP, who was the IRP, in their official capacity. The Board of Directors of Shreeji Shipping Global Limited has reviewed the contents of this communication and is currently examining the matter to determine the appropriate course of action. The company has committed to informing the stock exchanges of any material developments as required by applicable regulations.
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Shreeji Shipping Global Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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