BSECompany Update12h ago · 11 Nov 2026, 06:02 pm
Intimation under Reg 30 of SEBI (LODR) Regulation, 2015
DCW Ltd · 500117
✦ AI SummaryLitigation
DCW Ltd has intimated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the status and development in relation to the Writ Appeal WA(MD) 1436/2025 filed by the Government of Tamil Nadu challenging the Madras High Court Madurai Bench Order dated February 26, 2024. The Madras High Court Madurai Bench has dismissed the Writ Appeal and held that the Company must pay the market value for the lands as determined by the Government.
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DCW Ltd - 500117 - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
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Better Chemistry.
Better Tomorrow.
November 11, 2026
National Stock Exchange of India Ltd. BSE Limited
Exchange Plaza Bldg. Department of Corporate Services,
5th Floor, Plot No.C-1 1st floor, New Trading Ring
'G' Block, Near Wockhardt, Rotunda Building,
Sandra Kurla Complex Phiroze Jeejeebhoy Towers,
Mumbai 400 051 Dalal Street, Mumbai -400 001
Symbol: DCW Scrip Code: 500117
Sub: Intimation - Details of Litigation as required under Regulation 30 of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 ("Listing Regulations")
Dear Sir(s)/Madam,
This is in continuation of our earlier letters dated August 14, 2023, February 27, 2024 and June
19, 2025, informing the pending litigations of the Company pursuant to Regulation 30 read with
Para B of Part A of Schedule Ill of the Listing Regulations.
This update is being provided with respect to the Writ Appeal WA(MD) 1436/2025 filed by the
Government of Tamil Nadu challenging the Madras High Court Madurai Bench Order dated
February 26, 2024 passed in W.P(MD) No.11192 of 2017.
Accordingly, please find enclosed herewith update on the earlier disclosures as required under
Regulation 30 Para B of Part A of Schedule Ill of the Listing Regulations read with SEBI Master
Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, as
"Annexure I".
The said information is also being made available on the website of the Company at
www.dcwltd.com.
Kindly take the above information on your record
Thanking You,
Yours faithfully,
For DCW Limited
Dilip Darji
Sr. General Manager (Legal) 8- Company Secretary
Membership No. ACS-22527
Encl: A/a
REGISTERED DCW LIMITED MUMBAI DCW LIMITED
OFFICE Dhrangadhra 363310, Nirmal, 3rd Floor,
Surendranagar District, Gujarat. Nariman Point, Mumbai 400021
ho@dcwltd.com +91 (22) 49573000/49573001
www.dcwltd.com ho@dcwltd.com
CIN -L2411OGJ1939PLC000748
Better Chemistry.
Better Tomorrow.
Annexure I
Details required under Regulation 30 read with SEBI Master Circular
HO/49/14/14(7)2025-CFD-POD2/l/3762/2026 dated January 30, 2026
The details of any change in the status and/ Consequent upon the order dated
or any development in relation to such February 26, 2024, the Company had filed
proceedings; a fresh request with the Government,
specifying the survey numbers of the
lands sought to be allotted to the
Company, and is awaiting a hearing in the
matter. Subsequently, the Government
had filed Writ Appeal WA(MD) 1436/2025
in the Madras High Court Madurai Bench
seeking stay and challenging the High
Court Order dated February 26, 2024.
The Madras High Court (Madurai Bench)
Division Bench by its Order dated June
13, 2025, directed as follows : (i) the
Respondent (the Company) shall not be
evicted till the disposal of the Writ Appeal;
(ii) there shall be an interim stay.
The Madras High Court Madurai Bench by
its order dated November 03, 2026, which
was uploaded on the Court's website on
November 10, 2026 (the original signed
physical copy of the order is awaited), has
inter alia held as follows:
(i) if the lands are resumed, certainly, it will
have an adverse impact on the Company.
The Company has thus shown that they
would suffer detriment if the Government
were to go back on their promise which in
this case was precise and unambiguous.
(ii) It is the Government that has to be
blamed for having been inactive. The
Government cannot thus take advantage
of their own wrong. (iii) The Single Judge
has in clear terms held that the Company
must pay the market value for the lands as
determined by the Government. The
Company has to be put on notice and
associated in the process of valuation. (i ., L.
'/'""\ ,- " V
" / \·
' I.. '-....... ___ _ ) I
REGISTERED DCW LIMITED MUMBAI DCW LIMITED
OFFICE Dhrangadhra 363310, Nirmal, 3rd Floor,
Surendranagar District, Gujarat. Nariman Point, Mumbai 400021
ho@dcwltd.com +91 (22) 49573000/49573001
www.dcwltd.com ho@dcwltd.com
CIN -L2411OGJ1939PLC000748
Better Chemistry.
Better Tomorrow.
All the ingredients of the principle of
proprietary estoppel stand fulfilled in this
case. There is unequivocal promise on the
part of the Government to assign/sell the
lands. (v) Applying the test of
unconscionability, the Bench came to the
conclusion that permitting resumption of
the leased lands will lead to an unjust
result. (vi) The Bench endorsed the
reasons assigned by the learned Judge.
(vii) The Additional Advocate General
(AAG) submitted that the Company is in
possession of very large tracts of land in
the vicinity and that the resumption will not
impair their functioning. This ground was
not set out in the impugned government
Order (G.O.) (viii) A public order must
speak for itself and that reasons cannot be
supplemented during arguments. (ix)
Viewed from any angle, the Bench found
no merit in the Writ Appeal and
accordingly dismissed the same.
In the case of litigation against key Not Applicable
management personnel or its promoter or
ultimate person in control, regularly provide
details of any change in the status and/ or
any development in relation to such
proceedings;
In the event of settlement of the Not Applicable
proceedings, details of such settlement
including - terms of the settlement,
compensation/penalty paid (if any) and
impact of such settlement on the financial
position of the listed entity.
Reason for Delay in Disclosure The said order was intimated by the Plant to
the Head Office on Tuesday, November 10,
2026. The delay in dissemination of the
information was on account of November
10, 2026, being a Diwali holiday at the
Company's Head Office, and the time
required thereafter for reviewing the order
and assessing and discussing its
implications and impact on the Company.
REGISTERED DCWLIMITED MUMBAI DCW LIMITED
OFFICE Dhrangadhra 363310, Nirmal, 3rd Floor,
Surendranagar District, Gujarat. Nariman Point, Mumbai 400021
ho@dcwltd.com +91 {22}49573000/49573001
www.dcwltd.com ho@dcwltd.com
CIN -L2411 0GJ1939PLC000748