Update on the intimation dated 10.03.2025 for the FIR registered at Sahnewal Police Station, Ludhiana
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Singer India has informed the stock exchange that the Court of Judicial Magistrate First Class, Ludhiana, has passed an order dated September 22, 2025 discharging Mr. Prashant Aggarwal (VP – Sourcing and Logistics) and Mr. Subhash Chand Nagpal (Chief Financial Officer) from FIR No. 0048/2025 registered at Sahnewal Police Station, Ludhiana on March 8, 2025. The signed copy of the discharge order was received by the company on November 11, 2025. The company has stated that the matter has no impact on its financial, operational, or other activities. No violation or contravention has been confirmed against the company or its officials.
This is a positive development for Singer India shareholders as the criminal case against two key senior executives has been quashed by the court, removing any uncertainty around management continuity. With no financial or operational impact reported, the stock is unlikely to see material reaction, though lingering governance scrutiny may persist until the FIR is fully closed.