Image Source: BSE India
Pasari Spinning Mills Limited has secured a crucial stay from the Hon'ble High Court of Karnataka on the Proclamation of Sale issued by the Commercial Court, Mysuru in case Com. Ex./249/2023. The order, dated January 9, 2026 and received on January 13, halts all sale proceedings amid ongoing legal efforts. Financial impact remains under review.
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The stay follows the company's earlier disclosure on December 18, 2025, regarding the Mysuru court's proclamation linked to a dispute with Cotton Corporation of India Ltd. This intervention pauses asset enforcement actions, providing Pasari temporary relief as it navigates the litigation. The firm continues monitoring developments and pledges updates to the BSE.
Key Highlights
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High Court of Karnataka granted stay on operation of Com. Ex./249/2023 Proclamation of Sale
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Order issued January 9, 2026; received by company January 13, 2026
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Sale proceedings fully halted pending further court directions
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No quantifiable financial impact yet; under examination
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No violations alleged; no appeal planned against stay order
Sources: BSE Disclosures, Stockinsights.ai, Scanx.trade
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