Khadim India Limited has received a significant legal victory after the Hon'ble High Court of Punjab and Haryana, Chandigarh, confirmed the Arbitral Award dated June 27, 2022, which was passed in favour of the Company. The order, dated May 05, 2026, was received by the Company on May 12, 2026, and was disclosed to the stock exchanges on May 13, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the Dispute

The matter stems from a dispute between Khadim India and Samagra Shiksha Abhiyan Authority (SSAA), Punjab, through Director General School Education-cum-State Project Director (DG-School) ("the Tenderer"), relating to a tender for supply of school shoes and uniform. The Tenderer, vide its order dated August 28, 2020, withheld receivables of ₹ 32,00,00,000/- (Rupees Thirty Two Crores) (approx.) and forfeited Performance Bank Guarantees of ₹ 1,50,00,000/- (Rupees One Crore Fifty Lakhs) and ₹ 35,00,000/- (Rupees Thirty Five Lakhs). Aggrieved by these actions, Khadim India pursued legal recourse and entered into arbitration before an Arbitral Panel.

Arbitral Award and Subsequent Legal Proceedings

The Arbitral Panel, on June 27, 2022, passed an award in favour of Khadim India. The key details of the award and subsequent proceedings are summarised below:

Timeline of Regulatory Disclosures

Khadim India has been consistently disclosing the progress of this litigation to the stock exchanges in accordance with SEBI regulations. The Company had made prior disclosures on:

• August 11, 2023: Initial disclosure regarding the pendency of litigation and details of the Arbitral Award dated June 27, 2022.
• October 31, 2023: Disclosure informing that the Learned District Court at Mohali had set aside the Arbitral Award vide its order dated August 16, 2023, and that the Company had filed an appeal before the Hon'ble High Court of Punjab and Haryana, Chandigarh.
• May 13, 2026: Disclosure confirming that the Hon'ble High Court of Punjab and Haryana, Chandigarh, vide its order dated May 05, 2026, confirmed the Arbitral Award in favour of the Company.

High Court Order Restores Award in Company's Favour

The Hon'ble High Court of Punjab and Haryana, Chandigarh, vide its order dated May 05, 2026, confirmed the Arbitral Award dated June 27, 2022, which was originally passed in favour of Khadim India. The High Court simultaneously rejected the order dated August 16, 2023, passed by the Learned District Court at Mohali, which had set aside the Arbitral Award in favour of the Tenderer. The disclosure was made by Abhijit Dan, Group Company Secretary & Head – Legal, Khadim India Limited, on May 13, 2026.

Khadim India Limited has informed stock exchanges about the resignation of Mrs. Upama Mukherjee as Independent Director, effective from close of business hours on April 06, 2026. The resignation was submitted citing personal reasons, in compliance with Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015.

Director Resignation Details

Mrs. Upama Mukherjee, holding Director Identification Number 10585455, tendered her resignation as an Independent Director of the Company with effect from April 06, 2026. The resignation letter confirms that the decision was made purely on personal grounds.

Committee Memberships Impact

Consequent to her resignation as Director, Mrs. Mukherjee will also cease to be a member of key board committees. Her departure affects the composition of both the Audit Committee and Nomination & Remuneration Committee of the Company.

The resigning director has provided confirmation that there are no material reasons for her resignation other than the personal reasons mentioned. Additionally, she disclosed that she does not hold directorships in any other listed entities.

Regulatory Compliance

Khadim India Limited has fulfilled its disclosure obligations by providing comprehensive details to both BSE Limited and National Stock Exchange of India Limited. The communication includes the resignation letter and detailed information as required under SEBI Circular guidelines.

The Company Secretary Abhijit Dan, with ICSI Membership No. A21358, signed the official communication to stock exchanges, ensuring proper documentation and regulatory compliance for the directorial change.