Disclosure under Regulation 30 of SEBI (LODR) Regulation, 2015 regarding First Information Report bearing no. 01/2025 being registered at PCR Cell PS, Puducherry against certain Officials/ ....
Awaiting price reaction for this filing.
On April 23, 2025, an FIR (No. 01/2025) was registered at PCR Cell PS, Puducherry against four officials/individuals connected to the company's Puducherry Unit: Mr. Kathiresan Anbalagan (VP Operations), Mr. Srinivassan Palanivel (Senior Manager HR), Mr. Padmanabhan Sankaranarayanan Iyer, and Mr. Thanigaiselvan Jayaraman (Manager PPC). The charges include sections of the erstwhile Indian Penal Code, the Bharatiya Nyaya Sanhita, and Section 3(1)(r)(s) of the SC/ST (Prevention of Atrocities) Act, 1989. The company has stated that the FIR does not constitute 'litigation' under SEBI LODR Reg 30 and has no financial impact on the listed entity, but is making the disclosure as a matter of good governance. No expected financial implications or claim amounts have been mentioned. Notably, the filing is signed noting that the company is currently undergoing Corporate Insolvency Resolution Process (CIRP).
This is unlikely to materially affect the stock price as the company itself states the FIR is against individual officials and does not impact the listed entity. However, shareholders should note that the company is already under CIRP (insolvency proceedings), which remains the more significant overhang on the stock.