Supreme Court Dismisses Bhiwandi Municipal Corporation's Petition Against Antony Waste Handling Cell, Orders Payment Within Three Months

Antony Waste Handling Cell has secured a significant legal victory after the Hon'ble Supreme Court of India dismissed a Special Leave Petition filed by Bhiwandi Nizampur City Municipal Corporation (BNCMC) on May 05, 2026. The dismissal, pronounced by a bench comprising Hon'ble Mr. Justice Sanjay Kumar and Hon'ble Mr. Justice K. Vinod Chandran, upholds the Bombay High Court's order in CAA (L) No. 3634 of 2020 and brings closure to a dispute that had its origins in a Solid Waste Management contract awarded over two decades ago. The company disclosed this development to stock exchanges on May 07, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the Dispute

The legal proceedings trace back to 2005, when Antony Waste Handling Cell was awarded the Solid Waste Management contract by BNCMC. Following repeated breaches and non-compliance with contractual terms by BNCMC, the company initiated arbitration proceedings on March 21, 2013, claiming loss of profit arising from illegal termination and violation of the agreement. The arbitrator ruled in favour of Antony Waste Handling Cell on claims amounting to more than ₹15 crore with interest, while rejecting four remaining claims. The company subsequently filed a petition before the Bombay High Court seeking reconsideration of the four rejected claims.

Settlement and High Court Proceedings

During the pendency of these proceedings, BNCMC agreed to settle the matter by paying ₹15 crore. The settlement proposal, put forth by the Municipal Commissioner, was approved by the Standing Committee of the Corporation, and consent terms were executed. The key milestones in the High Court proceedings are outlined below:

Event:	Details
Compromise Recorded:	July 3, 2020 — Bombay High Court recorded the compromise; arbitration petitions disposed of
Final High Court Order:	March 5, 2021 — High Court rejected BNCMC's contention that the compromise was not in the Corporation's interest and upheld its validity
Special Leave Petition Filed:	August 24, 2021 — BNCMC challenged the High Court order before the Supreme Court
Supreme Court Order:	May 05, 2026 — Special Leave Petition dismissed

Supreme Court Order and Payment Directive

The Supreme Court, finding no reason to interfere with the Bombay High Court's judgment, dismissed the Special Leave Petition filed as Petition for Special Leave to Appeal (C) No. 19055/2021. The court issued specific directions regarding the disbursement of the settlement amount:

BNCMC is directed to disburse the amount due and payable within three months from the date of the judgment (May 05, 2026)
In the event of a delay beyond the stipulated period, the outstanding amount shall carry interest at the rate of 9% per annum from the initial date on which the compromise was arrived at
Should payment be delayed, BNCMC retains the right to recover the interest component from the officers responsible for the delay, in accordance with due procedure

Regulatory Disclosure

Antony Waste Handling Cell filed this disclosure with BSE Limited and the National Stock Exchange of India Limited on May 07, 2026, in compliance with Regulation 30 read with Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed that the litigation was not against any key management personnel, promoter, or ultimate person in control, and that the settlement terms and their financial impact are governed by the existing compromise already recorded by the Bombay High Court.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.56%	+3.78%	+25.32%	+4.36%	+5.98%	+77.39%

Antony Waste Handling Cell Limited has informed the stock exchanges of the issuance of a corporate guarantee amounting to ₹9,17,00,000 (Rupees Nine Crore and Seventeen Lakh Only) in favour of ICICI Bank Limited, extended on behalf of its subsidiary, Mumbai Eco Solutions Private Limited. The disclosure was made on May 05, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Master Circular dated January 30, 2026.

Corporate Guarantee Details

The guarantee has been issued to support various credit facilities being availed by Mumbai Eco Solutions Private Limited, a subsidiary of the company. The key details of the transaction, as disclosed under the applicable SEBI regulations, are presented below:

Parameter:	Details
Beneficiary of Guarantee:	Mumbai Eco Solutions Private Limited (Subsidiary)
Lender:	ICICI Bank Limited
Guarantee Amount:	₹9,17,00,000 (Rupees Nine Crore and Seventeen Lakh Only)
Purpose:	Various credit facilities availed by the subsidiary
Transaction Basis:	Arm's length
Disclosure Reference:	Regulation 30, SEBI LODR Regulations, 2015
Date of Disclosure:	May 05, 2026

Promoter Interest and Arm's Length Compliance

Antony Waste Handling Cell has confirmed that the promoter, promoter group, and group companies have no interest in this transaction. The corporate guarantee has been issued strictly on an arm's length basis, in accordance with applicable regulatory requirements.

Impact on the Listed Entity

The company has stated that there is no immediate financial impact on Antony Waste Handling Cell arising from the issuance of this guarantee. However, the corporate guarantee constitutes a contingent liability for the company to the extent of ₹9,17,00,000, which would be triggered in the event that Mumbai Eco Solutions Private Limited is unable to meet its repayment obligations to ICICI Bank Limited.

The disclosure was signed by Harshada Rane, Company Secretary & Compliance Officer of Antony Waste Handling Cell Limited, and submitted to both BSE Limited and the National Stock Exchange of India Limited on May 05, 2026.