Order of the Industries , Energy and Labour Department, State Government of Maharashtra permitting closure of the Textile unit located at Karad, District Satara, Maharashtra
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Hindoostan Mills Ltd has received approval from the Maharashtra State Government's Industries, Energy & Labour Department to close its textile unit located at Karad, District Satara. The order was passed on June 19, 2025, under Section 25 O(2) of the Industrial Disputes Act, 1947, in response to the company's application dated April 16, 2025. The company had earlier disclosed on April 15, 2025 that its Board of Directors had decided to close this unit, subject to government approval. With this order, the regulatory permission for closure is now in place.
Shareholders should note that this formalises the planned closure of the Karad textile unit, which may result in retrenchment-related costs, reduced production capacity, and a one-time impact on financials. However, since the Board had already approved the closure earlier, this announcement largely completes a known decision rather than introducing new uncertainty.