Transworld Shipping Lines Limited has received a favorable court order allowing its detained vessel to resume operations. The Gujarat High Court at Ahmedabad issued a release order on January 15, 2026, granting permission for the company's vessel SSL Visakhapatnam to sail from Hazira port.

Court Order Details

The release order was issued in connection with R/Admiralty Suit No.05 of 2026. The case involved allegations from plaintiffs regarding mis-delivery of cargo without the original Bill of Lading being tendered by the defendant. As part of the interim proceedings, the Hon'ble High Court had previously ordered the company to deposit a security amount.

Financial Impact

The company has disclosed the total financial impact of this matter as ₹7.50 crores. This amount comprises the court-ordered security deposit along with associated legal expenses.

Regulatory Compliance

The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as required for material events affecting listed entities. This follows an earlier disclosure dated January 13, 2026, indicating the company has been keeping stakeholders informed throughout the legal proceedings.

Operational Implications

With the release order now granted, the SSL Visakhapatnam vessel can resume its sailing operations from Hazira port. The resolution of this matter allows the company to restore normal operations for this particular vessel, which had been detained pending the court proceedings. The company secretary and compliance officer, Namrata Malushte, signed the regulatory filing confirming receipt of the court order on the same date it was issued.

Transworld Shipping Lines Limited has informed stock exchanges about a vessel arrest order issued by the Hon'ble High Court of Gujarat at Ahmedabad on January 13, 2026. The order pertains to the company's vessel SSL Visakhapatnam and was filed by Kishan Minerals as part of an admiralty suit.

Court Order Details

The arrest order was issued under R/Admiralty Suit No.05 of 2026, with Kishan Minerals serving as the plaintiff in the case. The company received the direction from the court on the same date the order was issued.

Allegations and Dispute

The plaintiff has alleged that there was a misdelivery of their cargo without the original Bill of Lading being tendered by the defendant. This represents a serious allegation in maritime law, as the Bill of Lading serves as a crucial document for cargo delivery and ownership transfer.

The matter is currently pending for adjudication before the court, indicating that the legal proceedings are ongoing and no final judgment has been rendered.

Financial Impact

The court has ordered Transworld Shipping Lines to deposit ₹7.44 crore as security in the interim period while the case proceeds. This security deposit represents the quantifiable monetary impact on the company's financial position.

Regulatory Compliance

The company has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Namrata Malushte, Company Secretary & Compliance Officer, ensuring proper regulatory compliance with stock exchange requirements.

This development highlights the operational challenges faced by shipping companies in cargo handling disputes and the significant financial implications that can arise from admiralty proceedings.