Intimation regarding receipt of Notifiaction of Submission of Application/ Petition registered with Hon''ble NCLAT, New Dehli.
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Awaiting price reaction for this filing.
Prashant India Limited has informed BSE about receiving a notification from the National Company Law Appellate Tribunal (NCLAT), New Delhi, on 8 October 2025. The notification relates to an appeal filed by Procon Financial & Investment Pvt. Ltd. under Section 421 of the Companies Act, 2013, challenging an order dated 25 August 2025 passed by NCLT Ahmedabad (in C.P. No. 49 of 2025 in C.P. No. 47 of 2025) that had been ruled in favor of the Company. The Company has stated it will keep the stock exchange informed of further developments.
The original NCLT Ahmedabad order was in favor of Prashant India Limited, but the losing party (Procon Financial) has now appealed to NCLAT. Shareholders should watch for further updates, as the appellate outcome could potentially overturn the favorable lower tribunal order, introducing some uncertainty on the legal matter.