Disclosure of pending litigation-Updates
KHADIM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Khadim India Limited has received a favorable update in its legal dispute with Samagra Shiksha Abhiyan Authority (SSAA), Punjab. The Hon'ble High Court of Punjab and Haryana, vide its order dated May 05, 2026, has confirmed the Arbitral Award passed on June 27, 2022, which was in favor of the Company. The High Court rejected the August 16, 2023 order of the Learned District Court at Mohali that had set aside the original arbitral award in favor of the Tenderer. The Company had filed an appeal against the District Court order on October 31, 2023. This resolves a dispute involving withholding of receivables and forfeiture of Performance Bank Guarantee related to a school shoes and uniform supply tender.
This is a positive development for the Company as the High Court has upheld the arbitral award in its favor, potentially enabling recovery of withheld receivables and reversal of the Performance Bank Guarantee forfeiture. Shareholders should view this as a favorable legal outcome that strengthens the Company's financial position.