Shree Rama Newsprint Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
RAMANEWS · price
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Awaiting price reaction for this filing.
Shree Rama Newsprint Limited had received an order on 1 May 2025 from the Collector of Surat directing the company to surrender 121,302 square meters of gouchar land that had been allotted to it for development. The company challenged this order before the Secretary (Dispute), Revenue Department, Government of Gujarat, acting as the Appellate Authority. On 15 July 2025, the Appellate Authority granted interim relief to the company, staying the effect of the Collector's order. The stay will remain in force until the next hearing scheduled for 28 August 2025. The company has committed to updating the stock exchanges on further developments.
Positive for shareholders in the short term, as the company has successfully obtained a stay on a land surrender order that could have impacted its development plans. However, this is only interim relief and the final outcome at the 28 August 2025 hearing will be more decisive for the stock.