Mehta Integrated Finance Limited has secured a significant legal victory with the receipt of a favorable court order from the Commercial Court at City Civil Court, Ahmedabad. The order, dated 01.04.2026 and served on 04.04.2026, directs the attachment and freezing of shares held by judgment debtors to prevent any further transfer or alienation.

Court Order Details

The Commercial Court issued the order under Order 21 Rule 46 of the Code of Civil Procedure 1908 in Commercial Civil Execution Petition No. 593 of 2021. The case involves Mehta Integrated Finance Limited as the award holder against Radhe Developers & Others as the award debtors.

Key Provisions of the Order

The court order contains several critical directives aimed at protecting the interests of Mehta Integrated Finance Limited. The garnishees are directed to freeze the shares of the judgment debtors lying with them and dividends accrued thereon with immediate effect. This measure ensures that there would be no further chance of transfer or alienating the shares held by the present judgment debtors.

The court noted that award debtor Nos 2, 3 & 4 are having certain interest in the form of shares in various companies, which prompted the application under Order 21 Rule 46(1)(b) of the Code. Additionally, the court observed that Section 34 of the Arbitration & Conciliation Act, 1996 has already been dismissed and no stay has been granted by the Hon'ble High Court of Gujarat despite many adjournments.

Share Holdings and Financial Implications

The order references shareholding patterns of promoter and promoter groups with documents showing holdings as of various dates including 31.12.2025, 31.03.2025, and 31.03.2024. The case involves shares in multiple companies, including Radhe Developers India Limited, which is listed on BSE Limited.

Legal Background and Timeline

The legal proceedings have been ongoing since 2007, indicating a long-standing dispute between the parties. The court has permitted direct service and scheduled a notice to the garnishees returnable on 08.04.2026. The order was pronounced by Judge Prakash Khubchand Khanchandani on 01.04.2026.

Company Actions and Compliance

Mehta Integrated Finance Limited has disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company, through its Company Secretary & Compliance Officer Kamleshbhai P Patel (Membership No. ACS-10772), has informed BSE Limited about the receipt of this favorable court order.

The company will pursue the attachment of shares held by the judgment debtors as directed by the court, ensuring compliance with the immediate effect directive for freezing shares and accrued dividends. This legal victory strengthens the company's position in recovering its dues from the judgment debtors.

Mehta Integrated Finance Limited announced its unaudited financial results for the quarter ended December 31, 2025, showing a challenging performance with the company reporting a net loss during the quarter. The board meeting held on February 5, 2026, also addressed key corporate governance changes including auditor appointments.

Financial Performance Overview

The company's Q3FY26 performance showed a significant decline compared to the previous year. Total income dropped substantially to ₹4.52 lakhs from ₹28.45 lakhs in Q3FY25, representing a sharp year-on-year decrease.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company maintained profitability despite the quarterly loss. The nine-month results showed total income of ₹58.48 lakhs compared to ₹72.84 lakhs in the corresponding period of the previous year.

Income Composition and Expenses

The company's income primarily consists of other income components including dividend income, interest income, and profit on investments. In Q3FY26, dividend income contributed ₹3.52 lakhs while interest income was ₹0.98 lakhs.

Total expenses for Q3FY26 increased to ₹18.56 lakhs from ₹18.08 lakhs in Q3FY25. Key expense categories included:

• Employee benefits expenses: ₹5.90 lakhs
• Other expenses: ₹5.80 lakhs
• Professional & consulting fees: ₹6.64 lakhs

Corporate Governance Changes

The board approved significant changes to the internal audit function during the meeting. M/s. P. P. Patel & Brothers, Chartered Accountants resigned as internal auditors effective February 4, 2026, citing pre-occupation with other assignments.

The newly appointed internal auditors, M/s. Trivedi Parikh and Shah from Ahmedabad, bring experience in indirect taxation, foreign accounting, statutory audit, and taxation services.

Share Capital and Earnings

The company maintained its paid-up equity share capital at ₹500.00 lakhs with a face value of ₹10 per share. The earnings per share for Q3FY26 turned negative at (₹0.28) compared to positive ₹0.207 in Q3FY25. For the nine-month period, earnings per share stood at ₹0.17 versus ₹0.47 in the previous year.