. Tasma has filed writ petition W.A. 947 of 2019 on behalf of batch of mills regarding deemed demand benefit. The High Court of Madurai pronounced order on 5-1-2026 which was forwarded ....
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Awaiting price reaction for this filing.
The Madras High Court (Madurai Bench) pronounced an adverse order on 5 January 2026 in W.A. No. 947 of 2019 batch cases, ruling against a group of textile mills including Maris Spinners. The court set aside an earlier favourable order and dismissed the writ petitions, effectively reversing the 50% Deemed Demand benefit on electricity charges that mills had been availing for power purchased through Open Access during August 2015 to March 2020. As a result, Maris Spinners must now repay Rs. 50,72,007 to TANGEDCO within three months (by around 12 March 2026). The case was pursued by TASMA (Tamil Nadu Spinning Mills Association) on behalf of member mills, and TASMA is now preparing to file an appeal before the Supreme Court. The High Court has directed TANGEDCO not to take any coercive action until the three-month deadline expires.
Short-term liability of approximately Rs. 50.72 lakhs to be paid to TANGEDCO within 3 months, which could marginally affect cash flows. However, the amount is relatively small compared to typical operations, and a Supreme Court appeal by TASMA remains pending, offering potential relief. No immediate major hit to stock price is expected given the modest size of the liability.