TRANSWORLD SHIPPING LINES LIMITED has informed the Exchange about Action(s) taken or orders passed
TRANSWORLD · price
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Awaiting price reaction for this filing.
The Madras High Court issued a warrant of release on 02nd May 2025 for the company's vessel SSL Sabarimalai, allowing it to sail immediately after the plaintiff (M/s. Torque Technics) withdrew its plea to arrest the vessel. The original dispute involved an unpaid invoice of about ₹15.79 lakhs for ship repair services, which was never paid because it was sent to a dormant email address of the company's officials. The matter was filed as R/Admiralty Suit No. 2312 of 2025 and has now been resolved in the company's favor with the vessel's release.
Positive for shareholders — the vessel has been released and is back in operation, and the underlying dispute (a relatively small claim of ~₹15.79 lakhs) has been withdrawn, with no major financial or operational damage disclosed.