Crompton Greaves Consumer Electricals Ltd: Court Acquittal in NI Act Proceedings
Crompton Greaves Consumer Electricals Ltd reported that a court issued an order concerning proceedings initiated under the Negotiable Instruments Act.The details provided relate to an order passed by the XXXV Metropolitan Magistrate Court (FTCII), Egmore at Allikulam, Chennai. The court found all the accused not guilty under Section 138 of the NI Act and subsequently acquitted them.
CGCEL had initiated proceedings against Variety Agency and two of its Partners under Section 138 of the Negotiable Instruments Act. The specific legal matter involved a cheque bearing No.407640, dated 29.01.2025, for a sum of ₹ 6,54,276/-. The court's acquittal in connection with this cheque resulted in a reported financial loss for the Company.
The Company noted the following timeline and financial implications:
| Detail | Information |
|---|---|
| Authority | XXXV Metropolitan Magistrate Court (FTCII), Egmore at Allikulam, Chennai |
| Order Received Date | 09.04.2026 at 15.00 pm (Direction received on 08/04/2026) |
| Violation/Contravention | Proceedings under Section 138 of the NI Act related to cheque No.407640, dated 29.01.2025 |
| Quantifiable Impact | ₹ 6,54,276/- |
Despite the financial impact quantified at ₹ 6,54,276/-, Crompton Greaves Consumer Electricals Ltd stated that there is no material impact on the Company's financials, operations, or other activities.
CROMPTON Stock Price Movement
As of 2:45 PM, shares of Crompton Greaves Consumer Electricals Limited are rallying by 1.42% in live trading, pushing the stock to ₹241.28. The equity is experiencing solid momentum, underscored by the trading of 2.64 million shares during the session.Source:
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