Legal12 May 2026, 06:51 pm
Orissa Bengal Carrier: FIR Quashed by High Court
AI Summary
Orissa Bengal Carrier Ltd (OBCL) disclosed that an FIR filed on November 11, 2025, against several individuals, including members of the promoter group, for allegedly fraudulently transferring shares, has been quashed by the High Court of Maharashtra at Nagpur on January 27, 2026. The FIR was filed by Mrs. Sonal Manoj Agrawal at Lakadganj Police Station, Nagpur. The company stated that the share transfers were validly executed and the parties reached a mutual settlement.
Key Highlights
- FIR alleging fraudulent share transfer against promoter group members quashed.
- The FIR was filed on November 11, 2025, and quashed on January 27, 2026.
- Approximate amount involved in the alleged fraud was ₹34 Crore.
- Company claims share transfers were valid and parties reached a settlement.
- OBCL is not a party to the FIR and expects no financial implications.
Price Impact
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