Ceigall India Secures ₹ 3.11 Crore Arbitration Award, Court Mandates PSIECL Account Attachment

Ceigall India Limited, being a BSE-listed company, has disclosed a positive judicial decision in the case of the company versus Punjab Small Industries Export Corporation Limited (PSIECL). In accordance with a regulatory filing with the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) dated April 11, 2025, the company has obtained a court ruling in its favour from the Additional District Judge, Chandigarh.

The April 9, 2025, order, received by Ceigall India on April 11, 2025, is regarding the enforcement of a previous arbitration award dated October 24, 2019. The court has directed the attachment of PSIECL's bank account for a sum of ₹ 3.11 Crores payable to Ceigall India Limited.

This development comes after an arbitration hearing between Ceigall India and PSIECL, the details of which were not outlined in the filing. This intervention by the court now represents a big step towards the realization of the arbitration award in Ceigall India's favour.

In its filing to the stock exchanges, Ceigall India Limited reported that the company anticipates that the court order is bound to have a beneficial effect on the financial health of the company. Recovery of ₹ 3.11 Crores is expected to support the company's financials and liquidity.

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