New Light Industries Limited has provided clarification to BSE Limited regarding the delayed disclosure of legal proceedings disposal, addressing queries raised by the exchange on 2nd March, 2026. The clarification pertains to discrepancies observed in the company's disclosure dated 27th February, 2026, which was submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Legal Proceedings Background

The company explained that the civil suit in question was originally filed by New Light Industries before the Hon'ble High Court of Delhi against certain parties. According to the clarification, the matter did not involve any claim against the company and was not considered material in nature from the perspective of financial or operational impact on the company.

Voluntary Withdrawal and Court Order

The suit was voluntarily withdrawn by the company after most of the alleged offending videos were taken down by the concerned parties. The Hon'ble High Court of Delhi, through its order dated 13 January 2026, recorded that the suit stands dismissed as withdrawn. The company received the copy of the order subsequently through its legal counsel, and after internal review and administrative processes, the disclosure was made.

Disclosure Timeline Issues

The company acknowledged that the disclosure could not be submitted within the prescribed timeline of 24 hours due to internal administrative processes. New Light Industries emphasized that the delay in disclosure was inadvertent and unintentional, not stemming from any attempt to withhold material information from the exchange or investors.

Company's Assurance

In its communication to BSE Limited, New Light Industries has provided assurance regarding future compliance with regulatory requirements. The company stated that it will ensure strict compliance with the timelines prescribed under Regulation 30 of the SEBI (LODR) Regulations, 2015 going forward. This commitment demonstrates the company's recognition of the importance of timely disclosures in maintaining transparency with stakeholders and regulatory compliance.

New Light Industries Limited has withdrawn its civil suit against Google LLC, YouTube, and 23 YouTube channels that was filed before the Hon'ble High Court of Delhi. The company announced this development through a regulatory disclosure dated 27 February 2026, informing the BSE about the disposal of the legal proceedings.

Case Background and Withdrawal

The civil suit, numbered CS(OS) 224 of 2024, was originally instituted on 24 March 2025 against Google LLC, YouTube, and 23 YouTube channels. The case was filed in connection with the circulation of unsolicited videos on social media platforms, with allegations of defamation and dissemination of damaging content against the company.

After due review and deliberation, the company's management unanimously resolved to withdraw the suit. The Hon'ble High Court of Delhi, through its order dated 13 January 2026, officially recorded that "the suit is dismissed as withdrawn."

Court Proceedings and Resolution

During the court proceedings on 13 January 2026, the plaintiff's counsel Ms. Vedika Dalmia informed Justice Vikas Mahajan that most of the offending videos had been taken down by the defendants, leading to the company's decision to withdraw the case.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, New Light Industries Limited has complied with the requirements of SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 November 2024 by providing detailed information about the case disposal.

Settlement Details

According to the regulatory filing, the civil suit has been dismissed as withdrawn, with no specific settlement terms, compensation, or penalty mentioned. The company indicated that the primary reason for withdrawal was that most of the offending videos had been removed by the defendants, effectively addressing the original concerns that led to the litigation.

The disclosure was signed by Himanshi Sharma, Managing Director of New Light Industries Limited, confirming the company's commitment to maintaining transparency with its stakeholders regarding significant legal developments.