Legal21 Aug 2026, 05:31 pm
Manaksia Steels Concludes Haldia Land Litigation with ₹3.32 Cr Payment
AI Summary
Manaksia Steels Ltd has settled a pending litigation concerning land in Haldia, West Bengal. The company deposited an enhanced land premium of ₹3,32,50,000/- in favor of the Haldia Development Authority, complying with a High Court order dated July 27, 2026. This settlement concludes the litigation, with no further outstanding liabilities. The dispute originated from an enhanced land premium demand for 35 acres of land, originally transferred to Manaksia Steels from Manaksia Ltd. The company anticipates no adverse financial implications from this payment.
Key Highlights
- Litigation concerning Haldia land settled for ₹3.32 Cr.
- Payment made as per High Court order dated July 27, 2026.
- No further financial liabilities outstanding for this matter.
- Company expects no adverse financial impact from the settlement.
Price Impact
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