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Awaiting price reaction for this filing.
Messe Frankfurt Trade Fairs India has filed a Commercial Arbitration Petition before the Bombay High Court against Netlink Solutions India, one of its directors, and other parties under Section 9 of the Arbitration and Conciliation Act, 1996. The dispute relates to an Asset Purchase Agreement from September 2018 and its amendment in September 2021, connected to a business division sale completed in earlier years. The petitioner is seeking interim reliefs pending arbitration. The company has not made any provision in its books and believes it has strong grounds to contest the claims.
No immediate financial impact or provision has been booked, and the company does not foresee material adverse effects on operations. However, the matter is pending and shareholders should watch for further updates on the outcome.