NIS Management: High Court Grants Stay on ₹2.17 Cr ESIC Damages Demand

NIS Management Ltd has received a significant legal reprieve as the Hon'ble High Court at Calcutta granted a stay on proceedings related to notices issued by the Employees' State Insurance Corporation (ESIC). The ESIC had demanded damages amounting to ₹2,16,99,099 (approximately ₹2.17 Crore). The stay is effective until December 15, 2026, or until further court orders. This development stems from a Writ Petition filed by NIS Management challenging the validity of the notices and the proposed recovery of damages. The company is contesting these demands, and the court's intervention provides a temporary but crucial halt to the financial obligation.