Disclosure on pending litigations-Update
KHADIM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Khadim India Ltd has received a favorable order from the Hon'ble High Court of Punjab and Haryana on May 5, 2026. The court confirmed the Arbitral Award passed on June 27, 2022, which was in the company's favor, and rejected the August 16, 2023 order of the Learned District Court at Mohali that had set aside the award. This dispute originated from the withholding of receivables and forfeiture of Performance Bank Guarantee by the Samagra Shiksha Abhiyan Authority (SSAA), Punjab, regarding a tender for supply of school shoes and uniforms. The company had challenged the District Court's order before the High Court.
This is a positive development for Khadim India as the High Court has upheld the favorable arbitral award, potentially enabling the company to recover the withheld receivables and the forfeited Performance Bank Guarantee. It removes legal uncertainty surrounding a material dispute.