Stallion India Fluorochemicals Limited has informed the Exchange about General Updates
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Stallion India Fluorochemicals has fully settled a long-running trade dispute with Chinese supplier Zhejiang Sanmei Chemical Industry Co., Ltd. by making a final payment of USD 1,251,290 (around ₹10.5 crore). A separate settlement of USD 126,080 was also made with Fluo Shanghai International Trade Co., Ltd. The payments were related to unpaid invoices for chemical supplies dating back to 2021. As part of the settlement, a SEBI complaint filed on May 23, 2024 against the company regarding alleged misstatements in its proposed DRHP about these transactions has been formally withdrawn by the complainant. The company has already accounted for these payments in its H1 FY25 financials and shown them as trade payables in Q4 FY25 results.
This is a positive resolution for shareholders as it removes an old legal overhang and a pending SEBI complaint against the company. While the cash outflow is significant, the liability was already provisioned, so there should be no surprise hit to future earnings. Closure of the matter reduces legal and compliance risks going forward.