ITD Cementation India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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ITD Cementation India has disclosed an update on an ongoing arbitration with Insta Concretex Private Limited (ICPL). ICPL had originally served an arbitration notice in December 2024, following which the Bombay High Court appointed a sole arbitrator in April 2025. Now, ICPL has formally served its Statement of Claims on the company on June 23, 2025. The dispute relates to claims over supplies made by ICPL for one of ITD Cementation's projects in Kolkata, West Bengal. The total claim amount is Rs. 11.28 crore including interest as of May 31, 2025. The company has stated that the financial impact can only be assessed once the arbitration award is issued.
This is a pending arbitration matter and not an adverse ruling yet. Shareholders should monitor the outcome, as a possible award against the company could result in a financial outflow of up to Rs. 11.28 crore, though the company has not quantified the impact at this stage.