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.

Transworld Shipping Lines Limited has successfully completed its acquisition of Transworld Logistics Private Limited (TLPL), marking a significant milestone in the company's expansion strategy. The acquisition was completed on December 31, 2025, making TLPL a wholly owned subsidiary of the shipping and logistics company.

Acquisition Details

The completion of the TLPL acquisition represents the fulfillment of commitments made in the company's earlier disclosure dated August 12, 2025. The transaction involved acquiring 100% of the paid-up share capital of TLPL through cash consideration.

Target Company Profile

Transworld Logistics Private Limited is a private company incorporated on July 21, 1993, with its registered office in Navi Mumbai. The company operates in the shipping agency services sector and has established a presence in the logistics industry.

Related Party Transaction

The acquisition qualifies as a related party transaction, as key promoters of Transworld Shipping Lines hold significant positions in TLPL. Mr. Sivaswamy Ramakrishnan Iyer, serving as Promoter and Executive Chairman, and Mr. Ritesh Sivaswamy Ramakrishnan, serving as Promoter and Non-Executive Director, also hold promoter positions in the acquired entity. The company has confirmed that the transaction was conducted at arm's length.

Strategic Objectives

The acquisition is designed to achieve several strategic objectives that align with the company's growth plans:

• Control costs through in-house vessel operations
• Execute owner-related activities across multiple ports efficiently
• Ensure operational efficiency and cost-effectiveness
• Explore broader opportunities for expansion in the shipping sector

Pending Acquisition

While the TLPL acquisition has been completed, Transworld Shipping Lines continues to work on acquiring Transworld Integrated Logistek Private Limited (TILPL). The TILPL acquisition remains in process and is expected to be completed on or before January 31, 2026. The company has indicated that there are no changes to the structure, consideration, or other key terms of the TILPL acquisition as previously disclosed.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No governmental or regulatory approvals were required for this acquisition, streamlining the completion process.