Application/Petition Registered with NCLT.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.5 pts more than Nifty Microcap 250 and 5.6 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Prashant India Limited has informed BSE that two petitions have been registered with the NCLT Ahmedabad Bench against the company and others. The petitions (Case No. CP/47(AHM) 2025 and CP/49(AHM) 2025) were filed by Procon Financial and Investment Pvt. Ltd. under Sections 241 and 242 of the Companies Act, 2013, which deal with complaints of oppression and mismanagement by shareholders. The matters are scheduled for hearing on 10th July 2025 and 17th July 2025 respectively. The company has stated it is preparing its response and will take all necessary legal steps to defend its position and protect stakeholders' interests. Further updates will be shared with the stock exchange as the matter progresses.
This is a shareholder dispute case alleging oppression/mismanagement, not insolvency or liquidation. The company has not been admitted into insolvency, so there is no immediate threat to operations or payments. However, the matter could create short-term uncertainty for the stock and may lead to legal costs and management distraction depending on the tribunal's ruling.