The Gujarat High Court has upheld a Labour Court order directing Timken India to pay regular wages to a former employee from January 2005 until the date of superannuation. The order pertains to a labour dispute involving Antifriction Bearings Corporation Limited, which amalgamated with Timken India, and former employee Anil Ambalal Modi. The company is currently assessing the financial impact of the judgment and has indicated it is likely to file an appeal against the order passed on June 17, 2026.

The dispute originated from the termination of Mr. Modi's employment on November 22, 1995. Following a failed conciliation, the matter was referred to the Labour Court, which in 2005 ruled the termination illegal and awarded back wages at 65% with a direction for reinstatement. The management appealed this decision, arguing that the workman had instigated other employees to undertake a go-slow, leading to a production drop. However, the court found no evidence to substantiate the allegation that Mr. Modi, who was an Account Clerk, had instigated the workers.

The High Court affirmed the findings of the Labour Court and the Single Judge, noting that the termination was not preceded by an inquiry. The bench observed that the management had previously settled similar matters with other employees dismissed during the same period. Consequently, the court dismissed the appeals filed by both the management and the workman.

The court directed the management to pay the same salary that Account Clerks were entitled to from January 2005 until the workman attained superannuation. This payment must account for all increments and enhancements provided to regular Account Clerks during that period. The company is entitled to deduct wages already paid under Section 17(B) of the Industrial Disputes Act, 1947, and wages paid from September 2016, when the workman was reinstated. The due amount shall be computed and made over to the workman within a period of six weeks from the date of receipt of the copy of this order.

Timken India has informed the exchanges that the computation of the financial liability is in progress and will take some time. The company stated that it intends to challenge the present order.

Timken India has closed its trading window for designated persons and insiders effective July 1, 2026, to comply with insider trading regulations ahead of its quarterly financial results. The window will remain shut until the expiry of 48 hours after the submission or publication of the financial results for the quarter ending June 30, 2026, to the stock exchanges following Board approval. This measure is in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Code of Conduct to regulate, monitor, and report trading by insiders.

The closure of the trading window is a standard procedure implemented to prevent the misuse of unpublished price-sensitive information (UPSI) during the period leading up to financial announcements. By restricting trading activities, Timken India aims to ensure market integrity and protect the interests of investors.

Key Dates and Restrictions

The following schedule outlines the specific timelines related to the trading window closure and the upcoming financial announcement:

The company has stated that the specific date of the Board meeting convened to approve the financial results for the quarter ending June 30, 2026, will be intimated to the exchanges shortly. Shareholders and market participants should await the official announcement regarding the results declaration schedule.