Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Bata India Limited has informed about Outcome of pending litigation(s) / dispute(s)
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Bata India Limited has disclosed the resolution of a long-running industrial dispute dating back to 2010. Workmen had alleged illegal termination and the matter was referred to the Industrial Tribunal. The Tribunal passed an Award, which Bata challenged in the Calcutta High Court. The High Court ordered a one-time compensation of Rs. 1.5 lakh per workman as full and final settlement, replacing reinstatement and back wages. Upon the Company complying with the order, the First Labour Court dismissed the case. The aggregate settlement amount paid by the Company was Rs. 55.50 lakhs.
This is a routine labour dispute settlement with a modest financial impact (Rs. 55.50 lakh). The matter is now fully closed with no ongoing liability, which removes a legal uncertainty for the Company.