Bannari Amman Spinning Mills Limited has informed regarding - Clarification for the NSE mail dated 29.7.2025 for the announcement submitted on 26.12.2024.
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Bannari Amman Spinning Mills clarified an earlier announcement from December 2024 about orders received from the Sub-Registrar of Dharapuram, Tirupur District. The company disclosed that these orders (621/2024 and 622/2024) were actually a refusal to register a mortgage that the company had created in favour of its lenders on two land parcels it owns. The refusal was due to discrepancies between the Registrar's records and the company's title documents and revenue records. The company has submitted all relevant documents to the department to resolve the discrepancy, and the matter is currently pending before the District Registrar. The company has stated that there are no violations or financial or operational impact from this matter.
The company confirms no financial or operational impact on its business from this administrative property title issue. However, the unresolved mortgage registration could create some uncertainty around the company's collateral arrangements with its lenders, though management appears to be actively working to resolve it.