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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Commercial Court of Mysuru issued a Proclamation of Sale against Pasari Spinning Mills Ltd on November 3, 2025, in execution proceedings (Com.Ex./249/2023) filed by Cotton Corporation of India Ltd for recovery of alleged dues of approximately Rs. 7.03 crore. The sale was directed against the company's property at Plot No. 54 and 55 in Nanjangud Industrial Area, Mysuru (42,889 sq. meters), with the auction originally scheduled for January 12, 2026. The company filed an Interlocutory Application before the Karnataka High Court seeking a stay. On January 6, 2026, the High Court ordered a stay on further proceedings, subject to the company furnishing security to the satisfaction of the executing court, and listed the matter for February 11, 2026. The company has stated that the financial impact cannot be quantified at present and is under examination.
This is a materially negative development involving a court-ordered attempt to sell company assets to recover ~Rs. 7 crore in alleged dues. However, the company has secured a temporary stay from the Karnataka High Court, providing breathing room. Investors should closely watch the next hearing on February 11, 2026 and the company's ability to furnish security and resolve the underlying dispute, as adverse outcomes could result in loss of key industrial property.