TRANSWORLD SHIPPING LINES LIMITED has informed the Exchange about Action(s) taken or orders passed
TRANSWORLD · price
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The Madras High Court issued an Arrest Order on 30 April 2025 against the company's vessel SSL Sabarimalai based on a plea by M/s. Torque Technics, a ship repair service provider. The plea was filed over an unpaid invoice of INR 15,01,750 (net of TDS) for repair services. The invoice allegedly went unpaid because it was sent to a dormant email address of the company's officials. The company has acknowledged the matter and stated it will make the payment of INR 15,01,750 (net of TDS, excluding legal costs). The vessel remains under potential arrest risk until the matter is settled.
Minor financial impact — a small one-time payment of about ₹15 lakhs is needed to resolve the issue. Operational risk to the SSL Sabarimalai vessel remains until the court order is addressed, but the company has accepted the liability, so no major shareholder concern is expected.