Intimation of receipt of Common Oral Order of the Hon''ble High Court of Gujarat
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Shashijit Infraprojects has informed BSE about a Common Oral Order from the Gujarat High Court dated 2nd June 2026. The case relates to a property lease dispute with Vapi Municipal Corporation (erstwhile Vapi Nagar Palika). The company had initiated arbitration to protect its contractual rights in the leased property. However, Vapi Municipal Corporation moved the High Court and obtained an interim order staying the arbitration proceedings. The next hearing is scheduled for 18th June 2026, and no final ruling on the merits has been made yet.
This is an adverse development for the company as the stay delays its ability to pursue the arbitration and enforce contractual claims against the municipal body. The matter remains pending and any financial impact is unclear until the next hearing, creating near-term uncertainty for shareholders.