Manali Petrochemicals Limited has disclosed to stock exchanges that it received an Industrial Tribunal award directing payment of approximately Rs. 1.11 crore to resolve a wage dispute with 12 workmen. The company received the award on April 2, 2026, though it was originally dated November 25, 2025.

Industrial Tribunal Award Details

The award was passed by the Industrial Tribunal, Chennai in Industrial Dispute Case No. PW-01-2022, filed by 12 workmen of the company. The dispute centers on wage-related issues pertaining to FY 2020-21 and FY 2021-22, which arose from certain employment-related actions taken by the company in FY 2019-20 with respect to these 12 workmen.

Company's Response and Legal Position

Manali Petrochemicals stated that it is examining the award in detail and will take appropriate legal recourse as advised by its legal counsel. The company has indicated that it may challenge or appeal the tribunal's decision through proper legal channels.

Financial and Operational Impact

According to the company's disclosure under SEBI Listing Regulations, the award does not have any material impact on the company's financial, operational, or other activities. This suggests that while the Rs. 1.11 crore payment obligation exists, it is not expected to significantly affect the company's overall business operations or financial performance.

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided relevant details as prescribed under SEBI Listing Regulations, 2015 read with SEBI circular dated January 30, 2026, ensuring compliance with regulatory requirements for material event disclosures.

Manali Petrochemicals has informed stock exchanges about receiving a significant court order regarding ongoing legal proceedings. The company received the order on 31st March 2026, which was dated 25th March 2026 from the Hon'ble Madras High Court that disposes of multiple writ petitions related to wage revision and service conditions.

Court Order Details

The Madras High Court order addresses three writ petitions filed by the company challenging awards from the Industrial Tribunal, Chennai:

Background of Legal Proceedings

The writ petitions were filed to challenge awards passed by the Industrial Tribunal, Chennai in two specific cases dealing with employment matters affecting the company's workforce:

Company's Response and Assessment

Manali Petrochemicals has indicated that it is currently evaluating the implications of the court order in consultation with its legal counsel. The company's official communication to stock exchanges outlined its approach:

• Assessment of financial implications with legal advisors
• Evaluation of legal ramifications of the court order
• Commitment to take appropriate steps as advised by legal experts
• Promise to keep stock exchanges informed of material developments

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's communication referenced SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The company has assured stakeholders that it will continue to provide updates on any further material developments related to this legal matter as the situation evolves.