Announced Sat, 25 Jul · 15:42 IST
Court quashes Estate Officer order, matter remanded for fresh hearing
IVP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.6%1-day move
₹152.95
prior close
—
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-0.6—————————
Up moveDown movePending
AI summary
The City Civil Court, Mumbai has quashed and set aside the order passed by the Estate Officer of Mumbai Port Trust (MBPT). The court has remanded the matter back to the Estate Officer for fresh adjudication and disposal on merits, after giving an opportunity of hearing to the parties. This is a positive development for IVP Limited as the prior adverse order no longer stands, though the matter will be re-heard afresh.
Likely market impact
Positive for IVP - the adverse Estate Officer order is set aside, removing its immediate impact, though the matter will be reconsidered.