Company Seeks Recovery of INR 1.38 Crore Plus Additional Claims
Noida, India – January 31, 2025 – DIC India Limited (NSE: DICIND, BSE: 500089, CSE: 10013217) has initiated arbitration proceedings against Star Plastics before the Indian Council of Arbitration for the recovery of outstanding dues, as per the company's latest regulatory filing.
Key Details of the Arbitration
Opposing Party: Star Plastics
Tribunal: Indian Council of Arbitration
Nature of Dispute: Recovery of outstanding payments
Financial Implications
The expected financial impact from the arbitration includes:
Total outstanding dues: ₹1,38,24,831 (INR 1.38 Crore)
Additional claims: Interest on overdue payments, arbitration costs, and any compensation approved by the Arbitrator.
Company Statement
DIC India Limited confirmed that it has formally initiated proceedings and will provide further updates as the arbitration progresses.
Outlook
This arbitration case underscores the company's efforts to recover dues and strengthen its financial position. Investors and stakeholders will be keenly watching further developments.