Kirloskar Ferrous Industries Limited, a key player in the Indian ferrous industry, has announced a temporary suspension of operations at its Hiriyur plant in Karnataka. The company disclosed this information through a regulatory filing to the BSE Limited on October 14, 2025.

Maintenance Schedule

The temporary halt in operations is scheduled for approximately 40 days, commencing from October 14, 2025. The company stated that this suspension is part of its normal maintenance and repair activities, ensuring the plant's optimal performance and longevity.

Key Details of the Suspension

Corporate Communication

The regulatory filing was signed by Mayuresh Gharpure, the Company Secretary of Kirloskar Ferrous Industries Limited. This communication aligns with the company's obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates prompt disclosure of material events to the stock exchanges.

Additional Corporate Action

In a separate but related development, Kirloskar Ferrous Industries Limited also issued a notice to its members regarding the opening of a special window for re-lodgement of transfer requests for equity shares held in physical form. This notice was published on October 14, 2025, in two newspapers:

1. Financial Express (English language) - All India editions
2. Loksatta (Marathi language) - Pune edition

This action demonstrates the company's commitment to shareholder services and compliance with regulatory requirements.

The temporary suspension of operations at the Hiriyur plant is a routine measure that allows Kirloskar Ferrous Industries to maintain its infrastructure and ensure long-term operational efficiency. Investors and stakeholders will be keenly watching for the plant's resumption of operations, expected in late November 2025.

Kirloskar Ferrous Industries Limited has disclosed a family settlement agreement dated September 11, 2009, following clarifications from the Securities and Exchange Board of India (SEBI). This disclosure comes in the wake of a legal battle and subsequent court order that provided clarity on the disclosure requirements for listed entities.

Background of the Disclosure

The company had initially challenged SEBI regulations on disclosure requirements through a writ petition before the Bombay High Court. The core of the dispute centered around the implications of disclosing agreements to which the company itself is not a party.

SEBI's Clarification

During the court proceedings, SEBI provided significant clarifications:

• The mere disclosure of an agreement by a listed entity does not automatically bind the entity or imply its adoption.
• Such disclosure does not necessarily mean that the agreement impacts the company's management or control.
• Listed entities are permitted to include disclaimers as part of their disclosures.

Court Order and Disclosure

Based on the clarification contained in the Bombay High Court order dated September 23, 2025, Kirloskar Ferrous Industries Limited proceeded to disclose the Deed of Family Settlement (DFS). The disclosure was made under Regulation 30A read with Clause 5A of Part A of Para A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Points of the Disclosure

1. The DFS was entered into on September 11, 2009, among individual members of the Kirloskar family.
2. The agreement involves ownership, management, and control arrangements for various Kirloskar Group companies.
3. Key family members involved include Atul Kirloskar, Sanjay Kirloskar, Vikram Kirloskar, Rahul Kirloskar, and Gautam Kulkarni.

Company's Disclaimers

Kirloskar Ferrous Industries Limited included several explicit disclaimers in its disclosure:

1. The company is not a party to the DFS and has not ratified or approved it.
2. The disclosure does not imply that the DFS is binding on the company or impacts its management or control.
3. The DFS does not impose any restrictions or create any liabilities for the company.

Implications

This disclosure marks a significant development in corporate governance practices for listed entities in India. It sets a precedent for how companies can disclose family agreements or other arrangements without necessarily binding themselves to the terms of such agreements.

The case underscores the importance of clear communication between regulatory bodies and listed companies, especially in matters of disclosure that may have far-reaching implications for shareholders and the market at large.

As this situation continues to evolve, it will be crucial to monitor how other companies in similar positions might approach such disclosures in the future, and how this might shape the landscape of corporate governance and transparency in India's financial markets.