Legal9 Sept 2026, 12:57 pm
Bombay HC allows revival of Svadeshi Mills, Forbes holds 22.70% stake
AI Summary
Forbes & Company Ltd announced that the Hon'ble High Court of Judicature at Bombay has passed an order dated September 02, 2026, allowing the revival of The Svadeshi Mills Company Limited. This order sets aside a previous judgment and accepts the revival proposal, deeming it conducive to commercial morality and public interest. Forbes & Company holds approximately 22.70% equity in Svadeshi and is currently evaluating the implications of this judgment. The company noted a delay in disclosure due to internal legal review.
Key Highlights
- Bombay High Court allows revival of Svadeshi Mills.
- Forbes & Company holds 22.70% equity in Svadeshi Mills.
- Court found revival conducive to public interest.
- Company is evaluating implications of the judgment.
- No envisaged impact on Forbes & Company's financials or operations.
Price Impact
More from FORBESCO