Kirloskar Industries Limited has informed the Exchange regarding 'Disclosure under Regulation 30A '.
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Kirloskar Industries has disclosed a Deed of Family Settlement (DFS) dated September 11, 2009, entered into between individual members of the Kirloskar family, purely to comply with SEBI's Regulation 30A disclosure requirement. The company had filed a writ petition in the Bombay High Court (WP 702/2025) challenging the constitutional validity of Regulation 30A, arguing that being forced to disclose agreements it is not a party to could wrongly bind the company. During the hearing, SEBI agreed with the company's stand and clarified that mere disclosure does not mean the company admits or is bound by the agreement. Based on this clarification, recorded in the Bombay HC order dated September 23, 2025, the company disclosed the DFS with explicit disclaimers stating it is not a party to, has not ratified, and is not bound by the settlement. Kirloskar Brothers, who intervened in the case, objected to SEBI's clarification. The writ petitions were withdrawn and disposed of, with all underlying disputes between the parties kept open for separate consideration.
This is a procedural/regulatory compliance filing with no direct impact on the company's operations, financials, or shareholder rights. The key takeaway is that the company has formally distanced itself from the 2009 family settlement, which is between individual family members only, and confirmed it has no management or control restrictions arising from it.