Update on SLP filed before Hon''ble Supreme Court of India against the Order of Hon''ble High Court of Bombay.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Supreme Court of India has issued an interim direction asking Maharashtra authorities to restore electricity and water supply to Growel's 101 Mall in Kandivali, Mumbai, but only for safety, security, and maintenance of the building — not for resuming business operations. This follows the Bombay High Court's earlier rejection of the company's challenge against the Maharashtra Pollution Control Board's closure order over environmental clearance violations. The Company had filed a Special Leave Petition (SLP) against the High Court order. The interim relief is subject to the final outcome of the SLP, and the Company has acknowledged it may still have to pay fines and penalties that cannot be quantified yet.
Positive but limited relief — utilities are restored only for maintenance, so the mall remains closed for commercial activity. Shareholders should watch the final SLP outcome and any future penalties, as unresolved pollution compliance issues continue to pose a risk to the mall's revenue and the company's financials.