Shiva Texyarn Limited has announced the successful resolution of a material litigation case involving Rs 1.44 crore with Louis Dreyfus Company India Private Limited. The Mumbai High Court has disposed off the petition based on a compromise agreement mutually agreed upon by both parties.

Case Background and Resolution

The litigation originated when Shiva Texyarn Limited filed a petition before the Mumbai High Court to set aside an arbitration award passed by a sole arbitrator appointed by the Cotton Association of India. The case has now been resolved through a compromise agreement between the parties.

Legal Proceedings Update

The Mumbai High Court has set aside the original arbitration award based on the consent terms mutually agreed between Shiva Texyarn Limited and Louis Dreyfus Company India Private Limited. The petition now stands disposed off in accordance with the compromise agreement and consent terms reached by both parties.

Regulatory Compliance

This update has been disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as required for material litigations. The company had previously communicated about this pending litigation in August 2023, and this resolution represents a significant development in the case.

Court Documentation

The company confirmed that the court order was downloaded from the official website of the Mumbai High Court on April 13, 2026. This resolution eliminates a material litigation from the company's pending legal matters, providing clarity on a significant financial exposure that had been outstanding.

Shiva Texyarn Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was filed with stock exchanges and depositories on April 6, 2026, confirming the company's adherence to regulatory requirements for dematerialization processes.

Regulatory Compliance Certificate

The certificate addresses the mandatory reporting requirements under SEBI regulations for handling dematerialization requests. Company Secretary R. Srinivasan signed the compliance document, which was digitally authenticated on April 6, 2026.

Dematerialization Process Confirmation

The company certified that all security certificates received from depository participants for dematerialization during Q4FY26 were properly confirmed to the depositories. The certificate confirms that accepted security certificates were mutilated and cancelled after due verification, with depositories' names substituted in the Register of Members as registered owners.

Registrar Support Documentation

MUFG Intime India Private Limited, serving as the company's Registrar and Transfer Agent, provided supporting confirmation dated April 3, 2026. Senior Vice President Ashok Shetty signed the registrar's certificate, confirming compliance with prescribed timelines for dematerialization processes.

Stock Exchange and Depository Filings

The compliance certificate was submitted to multiple regulatory entities including BSE Limited, National Stock Exchange of India Limited, National Securities Depository Limited, and Central Depository Services India Limited. The company confirmed that dematerialized securities remain listed on stock exchanges where the company's securities are traded.

The quarterly filing demonstrates Shiva Texyarn Limited's ongoing commitment to regulatory compliance and proper handling of investor dematerialization requests during the reporting period.