Legal10 April 2026 at 09:11 am
CGCEL loses cheque bounce case, ₹6.54 lakh financial impact
AI Summary
Crompton Greaves Consumer Electricals Ltd (CGCEL) announced that the XXXV Metropolitan Magistrate Court (FTCII), Egmore, acquitted Variety Agency and its partners in a case filed by CGCEL under Section 138 of the Negotiable Instruments Act. The case involved a bounced cheque for ₹ 6,54,276/-. The court's order, received on April 9, 2026, resulted in a financial loss for CGCEL of the same amount. Despite the loss, the company stated that there is no material impact on its overall financials, operations, or other activities. This intimation was made pursuant to SEBI Listing Regulations.
Key Highlights
- CGCEL lost a cheque bounce case against Variety Agency.
- The court acquitted the accused under NI Act Section 138.
- Financial loss for CGCEL is ₹ 6,54,276/-.
- Company states no material impact on financials or operations.