Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Receipt of Insurance Claim Repudiation Letter
VEEDOL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Veedol Corporation (formerly Tide Water Oil Company) has received a repudiation letter from National Insurance Company Limited rejecting their insurance claim. The claim was related to a fire incident at a third-party depot in Bhiwandi, Maharashtra, which occurred in October 2024. The company had lodged the insurance claim in February 2025 but the insurer has now denied the claim. The company states it is evaluating all available legal options and remedies. No specific claim amount or financial impact has been disclosed yet.
This is a negative development for the company as it will likely bear the full financial loss from the fire incident without insurance recovery. Shareholders should monitor for further disclosures on the quantum of loss and legal proceedings.