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)
BATAINDIA · price
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Bata India Limited has disclosed the outcome of a long-pending labour dispute that originated in 2010. Workmen had raised an industrial dispute alleging illegal termination, which was referred to the Industrial Tribunal. The Hon'ble Calcutta High Court directed the company to pay Rs. 1.5 lakh per workman as one-time compensation in full and final settlement, in lieu of reinstatement and back wages. The company complied with this order, and the First Labour Court has now passed an order for dismissal of the case. The aggregate settlement amount paid by the company is Rs. 55.50 Lakhs.
The settlement of Rs. 55.50 lakhs represents a modest financial impact for Bata India and brings closure to a decade-old labour dispute. This eliminates legal uncertainty and is unlikely to have any material impact on the company's stock price.