Submission of Court Order- Money Suit No. 530 of 2018
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Unishire Urban Infra Ltd has disclosed to BSE the court order in Money Suit No. 530 of 2018, decided by the Civil Judge (Senior Division), 10th Court, Alipore, on June 30, 2025. The suit was filed by Jaiswal Akash & Co, a Chartered Accountants firm, alleging that the company wrongly used their firm name and Firm Registration Number as its internal auditor for FY 2016-17 and FY 2017-18 in filings with the Registrar of Companies and BSE, without ever appointing or taking consent from the plaintiff. The court ruled against the company, noting admissions from the company's witness that the plaintiff's name was indeed filed with ROC and BSE as internal auditor without consent, and that no compensation was paid. While the plaintiff claimed Rs. 10 lakh in damages, the court found no strong evidence of business loss and awarded only Rs. 1 lakh as nominal damages, payable within 90 days, with no order on costs.
Minor negative for shareholders — the company has lost a civil suit and must pay Rs. 1 lakh in damages within 90 days, but the financial impact is negligible. However, the ruling confirms that the company filed incorrect information about its internal auditor with ROC and BSE, which raises corporate governance and disclosure quality concerns.