Disclosure under Regulation 30A read with Clause 5A of Part A of Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
KIRLFER · price
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Kirloskar Ferrous Industries disclosed a Deed of Family Settlement (DFS) dated September 11, 2009, signed among five individual members of the Kirloskar family (Atul, Sanjay, Vikram Kirloskar, Rahul Kirloskar, and Gautam Kulkarni) for record purposes. The company had filed a writ petition before the Bombay High Court challenging SEBI's Regulation 30A requirement to disclose agreements the company is not a party to. During the hearing, SEBI agreed with the company's position and clarified that mere disclosure does not mean the listed entity admits the agreement is binding on it or affects its management or control. Based on this clarification, the Bombay High Court order dated September 23, 2025 disposed of the writ petitions as withdrawn. The company is now disclosing the DFS but expressly stating it is not a party to it and does not admit any binding effect on the company.
This is largely a procedural compliance disclosure with no immediate financial impact. The company's strong disclaimers protect it from being seen as bound by the family settlement. However, the underlying family arrangement, which divides ownership and control of Kirloskar Group companies, may continue to create governance uncertainty among shareholders.