Crompton Greaves Consumer Electricals Limited, a leading name in the consumer electricals sector, has made a disclosure regarding an order passed by the Labour Court, Vadodara. This action, which is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), pertains to a compensation amount awarded to the company.

Details of the Labour Court Order

On November 26, 2024, the company received a directive from the Labour Court, Vadodara, which involved a compensation grant of Rs. 1.5 lakh and additional Rs. 5,000 for miscellaneous expenses. The order arose due to a violation related to Section 26A under the Industrial Disputes Act (ID Act).

Despite the issuance of the compensation order, Crompton Greaves has emphasized that there is no material impact on the financials, operations, or other activities of the company. The compensation awarded is not expected to affect the company’s day-to-day functioning or its overall financial standing.

Regulatory Compliance and Impact

This disclosure is in alignment with SEBI's Master Circular dated July 11, 2023, which mandates listed companies to disclose such events under Regulation 30. The company has made this announcement to ensure transparency and regulatory compliance, as it is required to inform the stock exchanges about any significant legal proceedings or actions taken against it.

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No Financial Impact

Crompton Greaves has clarified that the compensation granted by the Labour Court does not pose any material impact on the company's financials. The company’s operations and business activities are not expected to be disrupted due to this order, ensuring that its market performance remains unaffected.

As per the disclosure, Crompton Greaves Consumer Electricals Ltd remains committed to adhering to all regulatory requirements and has provided the necessary details as requested by the stock exchanges, including BSE and NSE.

Conclusion
While the Labour Court order requires the company to pay compensation, the disclosure confirms that the decision will not have any significant consequences on Crompton Greaves’ financial or operational performance. The company remains in compliance with all regulatory requirements and continues to focus on its core business operations.

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