Legal21 Aug 2026, 05:51 pm
Vardhman Polytex Ordered to Pay ₹10.19 Cr Plus Interest
AI Summary
Vardhman Polytex Ltd has been ordered by the National Company Law Tribunal (NCLT), Chandigarh Bench, to pay ₹10.19 crore plus 15% interest. This order stems from execution proceedings related to the exit of minority shareholder MUT from its erstwhile subsidiary, F.M. Haemmerle Textiles Limited. The NCLT directed payment within 30 days of the August 20, 2026 order. The company disputes the order and is taking legal steps to file an appeal and seek interim relief, stating the ultimate financial impact is subject to appellate proceedings.
Key Highlights
- NCLT orders Vardhman Polytex to pay ₹10.19 Cr plus 15% interest.
- Payment relates to minority shareholder exit from an erstwhile subsidiary.
- Company plans to appeal the NCLT order and seek interim stay.
- Financial impact is contingent on appeal outcome and potential relief.
Price Impact
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