Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you about civil suit filed by Artech International Private Limited against the Company before High Court of Calcutta. Artech International Private Limited was appointed as Distributor of the Company through execution of Distributor Agreement(s). The Company vide notice dated 8 May, 2026 terminated Distributor Agreement(s) w.e.f. 7 July, 2026 by giving 60 days notice. Artech International Private Limited has filed civil suit before High Court of Calcutta challenging termination notice dated 8 May, 2026 and alternatively, claimed damages to the tune of approx. Rs 107.86 crore. The matter was heard on 29 May, 2026 by vacation bench of High Court of Calcutta. The Company has raised the point about maintainability of civil suit. The Company at this stage does not expect any financial implications. You are requested to take note of the above.
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Timken India Limited disclosed that former distributor Artech International Private Limited has filed a civil suit in the High Court of Calcutta challenging the company's termination of their distributor agreement effective 7 July 2026. The termination notice was issued on 8 May 2026 with the required 60-day notice period. Artech is claiming damages of approximately Rs 107.86 crore. The matter was heard on 29 May 2026 by a vacation bench, where the company raised the issue of maintainability of the suit. Timken stated it does not expect any financial implications at this stage.
The lawsuit is at an early stage with the company contesting maintainability. The Rs 107.86 crore claim is significant but the company expects no financial impact, which should limit downside unless the case progresses unfavorably.