Garware Hi-Tech Films Limited received notice that the Maharashtra Pollution Control Board (MPCB) has forfeited its ₹25 lakh bank guarantee. The action stems from alleged non-compliance with consent conditions observed during a site hearing.

The company received the communication on October 21, 2026, via a letter dated October 19, 2026. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nature of the regulatory action

The MPCB cited alleged non-compliances of consent conditions as the basis for forfeiting the bank guarantee furnished by the company. However, the company stated in its filing that it has already taken effective steps and necessary compliance has been completed. This status was communicated to the MPCB prior to the final forfeiture decision.

Financial and operational impact

The immediate financial impact is limited to the encashment value of the ₹25 lakh bank guarantee. The company asserted there is no material impact on business operations or other activities due to this forfeiture.

Company response and compliance status

Garware Hi-Tech Films indicated that the specific violations cited by the MPCB have been addressed. The company emphasized that the necessary compliance measures were implemented and informed to the regulatory body. Despite this, the board proceeded with the forfeiture of the security instrument.

What the numbers show

The disclosed financial exposure is capped at ₹25 lakh, representing a minor liability relative to typical corporate balance sheets. The company's explicit statement that there is "no material impact" on operations suggests the issue is isolated to regulatory consent conditions rather than systemic operational failure. The divergence between the company's claim of completed compliance and the regulator's decision to forfeit highlights an ongoing procedural dispute rather than a confirmed ongoing violation.

Garware Hi-Tech Films Limited will host a one-on-one meeting with Mahindra Manulife Mutual Fund on Thursday, October 22, 2026. The session is scheduled for 4:00 pm at the company's corporate office in Mumbai.

The meeting involves senior management representatives from the polyester films manufacturer. It is organised by Mahindra Manulife Mutual Fund as part of their institutional investor engagement activities.

Meeting Details

The company filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table outlines the specific logistics for the scheduled interaction:

Compliance and Disclosure

Garware stated that no unpublished or price-sensitive information will be disclosed during the interaction. The schedule remains subject to change due to exigencies on the part of the investors or the company. The disclosure was signed by Awaneesh Srivastava, Company Secretary, on October 17, 2026.