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.