R R Kabel Limited has informed the Exchange about institution of a litigation against the Company as per the copy of a commercial suit and interim application served upon the Company on 14 June 2025.
RRKABEL · price
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R R Kabel Limited has disclosed that a commercial suit for damages has been filed against it before the Bombay High Court. The plaintiff, Mr. Dinesh Aggarwal, a former CEO appointed under an agreement dated 16 December 2022, alleges that his termination was premature, wrongful, and illegal. He has claimed damages of approximately Rs. 24.99 crore (Rs. 24,99,26,668) along with interest at 18% per annum from the date of accrual until realization. The suit was served on the Company on 14 June 2025, and the disclosure was made to the exchanges on 15 June 2025. The Company has stated it will consult its legal team and decide on further action. No court ruling, order, or outcome has been reported yet.
The Company faces a potential financial liability of around Rs. 24.99 crore plus 18% annual interest, but the case is at a very early stage with no adverse ruling yet. In the short term, this may create minor negative sentiment or uncertainty among investors, though the materiality depends on the Company's view of the claim's merit and eventual outcome.