Vardhman Polytex must pay Rs 10.19 crore plus 15% interest to Maschinen Umwelttechnik Transportanlagen Gesellschaft GmbH. The order stems from a 2015 dispute over a former subsidiary's exit. The company plans to appeal.
Vardhman Polytex Faces Rs 10.19 Crore NCLT Order
Vardhman Polytex Ltd is ordered to pay Rs 10.19 crore plus 15% annual interest. The NCLT, Chandigarh Bench has allowed an execution application by Maschinen Umwelttechnik Transportanlagen Gesellschaft GmbH (MUT).
Reader Takeaway: Company faces significant payout; success of appeal is key to financial impact.