The payment remitted in the Small Causes Court at Mumbai in connection with a long pending litigation is reported.
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Hindustan Organic Chemicals Ltd (HOCL) has paid Rs. 41.02 Crore to settle a 25+ year-old landlord-tenant dispute with M/s. Harchandrai & Sons regarding leased office premises in Mumbai. The Supreme Court, in its order dated 06.05.2025, directed HOCL to pay the disputed rent along with reduced simple interest of 6% per annum. The company had filed a Special Leave Petition and secured a 6-month extension to make the payment, which has now been remitted via the Court of Small Causes at Mumbai. With this payment, the litigation stands fully closed. The company clarifies there is no impact on its operations.
Shareholders should note a one-time cash outflow of Rs. 41.02 Crore to close a decades-old legal liability, but with no disruption to ongoing business operations.