Vardhman Polytex Faces ₹10.19 Crore Payment Order in Litigation
Vardhman Polytex ordered by NCLT to pay ₹10.19 crore plus interest in a litigation case with MUT. Payment is due within 30 days. Company plans to appeal the order.
The order involves a payment of ₹10.19 crore plus interest, which could have a medium-term financial impact on the company, especially if the appeal is unsuccessful.
The company has been directed by the NCLT to make a significant payment in a litigation case, which is a negative development.
Vardhman Polytex Limited has disclosed a material development in its ongoing litigation proceedings with Maschinen Umwelttechnik Transportanlagen Gesellschaft mbH ("MUT"). The Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench, has allowed an execution application and directed the company to make a payment of ₹10.19 crore.
This order arises from execution proceedings related to an order passed by the erstwhile Company Law Board in August 2015, concerning the exit of a minority shareholder from F.M. Haemmerle Textiles Limited, an erstwhile subsidiary. The payment amount of ₹10.19 crore represents the determined value of shares as of March 31, 2010, plus interest at 15% per annum.
The NCLT order, uploaded on August 21, 2026, directs Vardhman Polytex to make the payment within 30 days from the order's pronouncement on August 20, 2026. The company stated that if the order is upheld, it would result in a financial liability, the exact impact of which, including interest, will be subject to appellate proceedings.
Vardhman Polytex is taking appropriate legal steps to file an appeal against this order before the competent appellate forum and intends to seek interim relief. The company will continue to keep the stock exchanges informed of material developments, including the filing of the appeal and any subsequent orders.
What to do with a filing like this
Vardhman Polytex 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 medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Vardhman Polytex Limited. Read the original for the full detail.