Shashijit Infraprojects: Court Summon Withdrawn, Legal Matter Resolved
Shashijit Infraprojects Limited announced the withdrawal of a court summon issued by the 3rd Additional Senior Civil Judge & Additional Chief Judicial Magistrate Court, Surat. The summon, related to alleged contraventions under the Payment and Settlement Act and Negotiable Instruments Act, was withdrawn on July 25, 2025. The company stated that this resolution has no financial, operational, or other impact on its business. The disclosure was made in compliance with SEBI regulations and circulars.
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Shashijit Infraprojects Limited has announced the resolution of a legal matter that had been pending against the company. The construction engineering firm, based in Vapi, Gujarat, reported that a summon issued by the Court of 3rd Additional Senior Civil Judge & Additional Chief Judicial Magistrate Court, Surat, has been withdrawn.
Legal Proceedings Dropped
The summon, which was related to alleged contraventions under Section 25 of the Payment and Settlement Act, 2007 and Section 138 of the Negotiable Instruments Act, 1881, is no longer in effect. The company received communication regarding the withdrawal on July 25, 2025.
No Financial Impact
In a statement to the Bombay Stock Exchange (BSE), Shashijit Infraprojects emphasized that the resolution of this legal matter has no financial, operational, or other impact on the company. The matter now stands closed, and the company is not required to make any appearances before the court.
Regulatory Compliance
The company made this disclosure in compliance with:
- Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
This adherence to regulatory requirements demonstrates the company's commitment to transparency in its dealings with shareholders and regulatory bodies.
Manthan D. Shah, Company Secretary and Compliance Officer of Shashijit Infraprojects Limited, signed the official communication to the BSE, confirming the withdrawal of the summon and the closure of the legal proceedings.
This development marks the resolution of a potential legal challenge for Shashijit Infraprojects Limited, allowing the company to focus on its core business activities in the construction and infrastructure sector without the burden of ongoing legal proceedings.
Historical Stock Returns for Shashijit Infraprojects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.42% | -4.24% | -3.92% | -22.31% | +52.02% | -23.27% |
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