Disclosure under Regulation 30 of SEBI Listing Regulation, 2015
UNITDSPR · price
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United Spirits (USL) has received a water charges demand of INR 441.95 crore from the Maharashtra Water Resources Department (WRD) covering November 2018 to February 2026, after adjusting a prior deposit of INR 66.50 crore. USL disputes the demand, citing that WRD failed to follow Principles of Natural Justice, denied a hearing, and did not share the basis for its computation. The company challenged the demand in Bombay High Court by filing a Writ Petition. The Supreme Court, on 12 May 2026, directed USL to deposit INR 50 crore with the Court (not WRD) as an interim measure, restraining WRD from coercive action for four weeks. USL's management believes it has a strong case on merits and does not expect material financial implications.
The INR 50 crore court deposit is a near-term cash outflow but does not imply admission of liability. While the company portrays the demand as legally weak, a final adverse ruling could result in a significant one-time charge impacting financials. Shareholders should monitor the outcome of the SLP and ongoing litigation.