Timken India Limited has successfully resolved a consumer dispute case through an amicable settlement, avoiding potential financial penalties of ₹25,000. The company informed stock exchanges on December 17, 2025, about the favorable resolution of an appeal filed against a District Consumer Commission order.

Case Background and Original Dispute

The dispute originated from a share transmission request made by Mr. Ravi Shankar Sood in 2020-21. The shares were originally held in the name of his father, Mr. D.N. Sood, who passed away in 2013. CB Management Services Private Limited, serving as the Registrar and Transfer Agent (RTA), requested Mr. Sood to provide relevant documents as per SEBI Guidelines for the transmission process.

A disagreement arose when the RTA claimed it did not receive the requisite documents and therefore did not process the transmission. However, Mr. Sood maintained that he had submitted all necessary documents for the share transmission.

District Commission Order and Penalties

Mr. Sood filed a complaint before the District Consumer Disputes Redressal Commission, Shimla, alleging deficiency in service by the RTA and company in processing the share transmission. The District Commission ruled in favor of Mr. Sood and issued specific directions to resolve the matter.

The original order required the RTA and company to process the transmission within 60 days of receiving all documents and completing formalities. Additionally, the District Commission imposed financial penalties on both entities.

Appeal and Settlement Resolution

Timken India Limited and the RTA filed an appeal against the District Commission's order before the State Consumer Disputes Redressal Commission, Himachal Pradesh. During the pendency of the appeal proceedings, all parties engaged in settlement discussions and reached a mutually acceptable resolution.

The State Commission disposed of the appeal with the consent of all parties involved. Importantly, the settlement was concluded without any costs, compensation, or penalty imposed on the company or its RTA.

Financial and Operational Impact

The company has confirmed that the settlement has no financial, operational, or other impact on its activities. The successful resolution means Timken India Limited and its RTA are not required to pay the originally awarded ₹15,000 compensation and ₹10,000 litigation costs to Mr. Sood.

This favorable outcome demonstrates the company's commitment to resolving disputes through appropriate legal channels while protecting shareholder interests. The settlement approach also reflects efficient dispute resolution practices that avoid prolonged litigation costs and potential reputational impacts.

Timken India Limited , a leading manufacturer of engineered bearings and power transmission products, has announced a change in its board composition. Douglas Smith (DIN: 02454618), currently serving as a Non-Executive Director, has tendered his resignation effective December 15, 2025. The decision comes as Smith prepares for his upcoming retirement from Timken services.

Board Changes and Committee Impact

Smith's departure will affect the board's composition and lead to changes in key committees. Specifically, he will cease to be a Member of the Stakeholders Relationship Committee from the same date. This transition may prompt Timken India to consider realigning its committee structures to ensure continued effective governance.

Company's Financial Position

While the company undergoes this leadership transition, it's worth noting Timken India's financial position based on the most recent balance sheet data:

The company has shown growth in its total assets and equity over the past year.

Looking Ahead

As Timken India prepares for Smith's departure, the company's financial position suggests it is equipped to manage this transition. The board will likely focus on ensuring a smooth handover of responsibilities.