Bombay Wire Ropes Ltd Receives Labour Union Communication Regarding Court and Tribunal Compensation Orders
Bombay Wire Ropes Ltd has received communication from a labour union concerning orders issued by various tribunals in Maharashtra regarding long-standing compensation payments to workmen. The company confirmed the details of these legal directives, which relate to compensation awards spanning several periods.The correspondence relates to two specific judicial actions. First, an Order dated January 24, 2026, was issued by the Industrial Court, Maharashtra, Thane (Complaint No. 238 of 1995). This order directed Bombay Wire Ropes Ltd to pay compensation at the rate of Rs. 1,00,000/- per year per workman for the period extending from March 13, 1995, to November 01, 2006.
In addition, an Award dated January 24, 2026, was issued by the Industrial Tribunal, Maharashtra, Thane (Reference No. 35 of 2006). This Tribunal directed the payment of compensation at a rate of Rs. 1,00,000/- per year per workman, covering the period from November 01, 2006, until each respective date of retirement.
Regarding the financial implications of these orders and awards, Bombay Wire Ropes Ltd stated that any resulting financial repercussions rest solely with a Developer. This responsibility is based on Consent Terms previously filed before the Hon'ble Bombay High Court and recorded in an Order dated July 13, 2012.
Stock Price Movement
Bombay Wire Ropes Ltd settled at ₹48.80 on Monday, edging up 1.04% in after-hours trading. Throughout the day, shares traded within a tight range, moving between a low of ₹48.54 and the closing price.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.