Ind-Swift Laboratories Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015- Update on Arbitration proceedings with PI Industries Limited."
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Ind-Swift Laboratories has informed the stock exchanges about the latest developments in its ongoing arbitration with PI Industries Limited at the Mumbai Centre for International Arbitration (MICA). At the hearing on 15th May 2025, the Arbitral Tribunal issued Procedural Order No. 13, under which the Tribunal was reconstituted after Justice V.K. Gupta (Respondents' Nominee Arbitrator) passed away. Justice Jaswant Singh (Retd), former Chief Justice of the High Court of Tripura, has been inducted as the new Nominee Arbitrator. The Tribunal has also set a timetable for completing the arbitration in July and August 2025, which includes recording of evidence and final arguments. No final ruling or outcome has been declared yet.
This is a procedural update and not an adverse ruling, so no immediate impact on shareholders. Investors should monitor the July-August 2025 hearings closely as the final outcome of the arbitration could materially affect the company's financial position depending on the ruling.