Eveready Industries India Limited , a prominent player in the Indian consumer goods sector, has successfully resolved its ongoing arbitration dispute with Real Touch Finance Limited. The company recently announced the receipt of a consent award from the arbitral tribunal, marking the formal conclusion of the proceedings.

Settlement and Consent Award

According to the disclosure made by Eveready Industries to the stock exchanges, the arbitral tribunal issued a consent award on September 22. This award follows a settlement agreement reached between Eveready Industries and Real Touch Finance Limited on July 25. The company received the official copy of the consent award on October 1.

Key Points of the Resolution

• Withdrawal of Proceedings: The arbitration proceedings against Eveready Industries have been withdrawn and officially terminated.
• Vacation of Interim Orders: All interim orders previously issued by the arbitral tribunal have been vacated with respect to Eveready Industries.
• Financial Impact: Eveready Industries has stated that the settlement has no impact on its financial position.

Regulatory Compliance

The company made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was shared with the National Stock Exchange of India Limited, BSE Limited, and The Calcutta Stock Exchange Limited, where Eveready Industries' shares are listed.

Company Statement

Shampa Ghosh Ray, Company Secretary of Eveready Industries India Limited, signed the disclosure, emphasizing the company's commitment to transparent communication with its stakeholders and regulatory bodies.

This resolution of the arbitration dispute marks a positive development for Eveready Industries, potentially allowing the company to focus on its core business operations without the overhang of legal proceedings.

In a recent development affecting the manufacturing sector, the Supreme Court has rejected a plea for Value Added Tax (VAT) relief on asbestos cement sheets produced using fly ash in Rajasthan. The case, which involves Eveready Industries India Limited , highlights the ongoing challenges faced by manufacturers in the construction materials sector.

Supreme Court Decision

The apex court's ruling denies VAT relief for asbestos cement sheets manufactured with fly ash, a decision that could have significant implications for producers in Rajasthan. This verdict may impact the cost structure and pricing strategies of companies involved in the production of these construction materials.

Implications for Eveready Industries

Eveready Industries India Limited, known primarily for its batteries and flashlights, is involved in this case, suggesting a diversification of its business interests. The company's involvement in the production of asbestos cement sheets using fly ash indicates its presence in the construction materials sector, a fact that may not be widely known to all investors.

Industry Impact

The Supreme Court's decision could have broader implications for the construction materials industry, particularly for companies operating in Rajasthan. Manufacturers may need to reassess their production costs and pricing strategies in light of this ruling, potentially affecting their competitiveness in the market.

Corporate Governance Update

In a separate development, Eveready Industries India Limited has announced a significant change in its leadership. According to a recent corporate filing:

• Mr. Suvamoy Saha [DIN: 00112375] will complete his term as the Managing Director of the Company on September 30, 2025.
• He will cease to be a member of the Board following the completion of his tenure.
• The company has expressed appreciation for Mr. Saha's valuable services, guidance, and support during his tenure.

This change in top management comes at a time when the company is navigating challenges in various sectors of its business, including the recent Supreme Court decision on VAT relief.

Conclusion

The Supreme Court's ruling on VAT relief for asbestos cement sheets manufactured with fly ash in Rajasthan, coupled with the upcoming leadership change at Eveready Industries India Limited, underscores the complex regulatory and corporate landscape in which the company operates. These developments may have implications for the company's strategy and performance in the coming months.