The High Court of Bombay has delivered a significant ruling in favor of United Spirits Limited (USL), setting aside water charge demands totaling ₹443.00 crore raised by the Water Resources Department (WRD) of Maharashtra. This decision marks a crucial development in the ongoing dispute between the spirits major and state authorities over water usage fees.

Court's Directive

The High Court's order, dated September 26, 2025, not only overturned the existing claims but also directed the WRD to reassess the bifurcation of water charges. The department has been given a three-month window to ascertain the division between raw material and process usage, and subsequently issue reconciled water charges bills from November 2018 onwards.

Interim Measures and Company's Response

As part of the judgment, the Court has instructed United Spirits to submit an interim deposit of ₹66.50 crore, which will be adjusted against the reconciled water bills. USL, in its disclosure to the stock exchanges, stated that it is currently evaluating its next steps in light of this development.

Financial Implications

United Spirits appears confident about its position in this matter. In its risk assessment, the company expressed belief in the strength of its case on merits and does not anticipate any material financial impact from this ruling.

Timeline of Events

• August 14, 2023: Initial stock exchange intimation by the company
• May 21, 2024: Subsequent stock exchange intimation
• September 26, 2025: High Court judgment pronounced
• September 29, 2025: Judgment communicated to company officers

USL attributed the slight delay in disclosure to the need for internal assessment of the judgment and its implications.

Unrelated Matter

In an unrelated development, United Spirits has chosen not to comment on media reports concerning a potential stake sale of Royal Challengers Bengaluru (RCB), stating that it does not respond to market speculation.

This High Court decision represents a significant victory for United Spirits in its ongoing regulatory challenges. As the WRD prepares to reassess the water charges, stakeholders will be keenly watching for the final reconciled figures and any further developments in this case.

In a significant development in the world of cricket and business, Adar Poonawalla, the CEO of Serum Institute of India, has emerged as one of the key figures in the potential acquisition of the Royal Challengers Bangalore (RCB) cricket franchise. This move comes as the franchise aims for a staggering valuation of $2.00 billion.

RCB's Ambitious Valuation Target

The Royal Challengers Bangalore, one of the most popular teams in the Indian Premier League (IPL), is reportedly targeting a valuation of $2.00 billion. This ambitious figure underscores the growing value of cricket franchises in India and the increasing interest from high-profile investors in the sport.

Adar Poonawalla's Involvement

Adar Poonawalla, known for his leadership at the Serum Institute of India, the world's largest vaccine manufacturer by volume, is now venturing into the cricket business. His involvement in the RCB acquisition group adds significant weight to the bid, given his business acumen and financial prowess.

United Spirits' Stance

Amid the speculation surrounding the potential stake sale, United Spirits , the current owner of RCB, has chosen to remain tight-lipped. The company has stated that it does not comment on speculation regarding a potential stake sale in RCB. This stance leaves many questions unanswered about the details of the rumored transaction.

Implications for Indian Cricket

This development could have far-reaching implications for Indian cricket:

1. Increased Franchise Values: RCB's $2.00 billion valuation target could set a new benchmark for cricket franchises, potentially driving up valuations across the board.

2. Corporate Interest: Poonawalla's involvement might encourage other high-profile business leaders to invest in cricket franchises, further boosting the sport's commercial appeal.

3. Global Attention: Such high-value transactions could attract more international attention to the IPL and Indian cricket in general.

While the details of the acquisition and the composition of the entire buying group remain undisclosed, this news has already created a buzz in both cricket and business circles. The potential deal highlights the growing intersection of sports, entertainment, and big business in India.

As this story develops, stakeholders in the cricket ecosystem, including fans, players, and other franchise owners, will be keenly watching how this high-profile acquisition unfolds and its potential impact on the future of the IPL and cricket business in India.