Signpost India Limited has informed the Exchange about Action(s) taken or orders passed
SIGNPOST · price
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The Karnataka High Court has ruled in favor of Signpost India in Writ Petition No. 26349 of 2024, quashing notices issued by BBMP (Bruhat Bengaluru Mahanagara Palike) that had directed the company to dismantle its advertisement structures in Bengaluru. The Court has directed BBMP to honor the terms of an earlier Joint Memorandum of Compromise and the Public-Private Partnership (PPP) agreement signed between the parties. The order allows Signpost India to erect and maintain advertisement hoardings at mutually identified locations under a 20-year BOOT (Build-Own-Operate-Transfer) model covering 400 traffic junctions in the city. Over 150 surveillance kiosks are already operational, serving the Bengaluru Traffic Police. The company has stated no penalty or restriction was imposed, and the order supports the recovery of its capital investment in the project.
This is a positive development for shareholders, as it removes a major regulatory hurdle and allows Signpost India to restart its Bengaluru advertising operations, which are central to recovering its capital investment and generating revenue from the 20-year PPP project. The ruling strengthens the company's legal position and business continuity in a key market.