Legal13 Apr 2026, 03:49 pm
Shiva Texyarn: Mumbai HC sets aside
AI Summary
Shiva Texyarn Ltd has provided an update on a material litigation involving M/s. Louis Dreyfus Company India Pvt. Ltd. The company had filed a petition with the Hon'ble High Court of Mumbai to set aside an arbitration award of ₹1,44,00,000. The High Court has now set aside the Arbitration Award based on a mutually agreed compromise agreement and consent terms between both parties. As a result, the petition stands disposed of. The order was downloaded from the High Court's website on April 13, 2026. This resolution is a significant development, removing a potential legal and financial overhang for Shiva Texyarn Ltd.
Key Highlights
- Shiva Texyarn's petition against an arbitration award is resolved.
- Mumbai High Court set aside a ₹1.44 Cr arbitration award.
- Resolution based on mutual compromise and consent terms.
- Legal dispute with Louis Dreyfus Company India is now closed.