Stallion India Fluorochemicals Limited has informed the Exchange regarding Settlement Letter for part Payment of towards discharge of liability due to Zhejiang Sanmei Chemical Industry Co., Ltd.
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Stallion India Fluorochemicals has amicably settled a long-pending trade dispute with Chinese supplier Zhejiang Sanmei Chemical Industry Co., Ltd. The total outstanding amount was USD 1,251,290 against unpaid invoices from March-April 2021 for chemical supplies. The company has already made a partial payment of USD 565,625 (about 45% of the total) covering 10 invoices. The remaining balance of USD 685,665 is committed to be paid on or before April 30, 2025. As part of the deal, Zhejiang Sanmei has agreed to waive all interest and late fees, withdraw its SEBI complaint filed in May 2024, and provide a no-dues certificate once the balance is cleared. The provision for this payment was already made in the September 2024 financials and the amount reflects as a trade payable in the March 2025 quarter results.
This is a positive development as it removes lingering litigation risk and avoids potential interest charges from the Chinese supplier. The remaining USD 685,665 (~₹5.7 crore approx.) payout is already provisioned, so it should not surprise earnings. The withdrawal of the SEBI complaint removes a regulatory overhang on the stock. However, investors should note the company must honor the April 30, 2025 deadline to keep the settlement valid.