Letter enclosed
CEMPRO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Cemindia Projects has informed stock exchanges that a Special Judge court in Vijayawada, Andhra Pradesh, has discharged both the Company and a former employee from a criminal case. The case involved allegations of attempted bribery of public servants under the Prevention of Corruption Act, 1988. A charge-sheet had been filed against the former employee, a former representative, and the Company. Both parties filed a Criminal Miscellaneous Petition seeking discharge, which was granted by the court on 13th April, 2026. The Company states there are no expected financial implications from this matter.
Positive development for shareholders as the Company has been cleared from a corruption-related criminal case, removing a legal cloud that had been pending since 2018. No financial losses or penalties are anticipated.