Fine Organic Industries Settles Fire Incident Claim with Tata AIG General Insurance Company Limited
Fine Organic Industries Limited has announced that its insurance claim regarding a fire incident at one of its plants has been fully settled by Tata AIG General Insurance Company Limited. The settlement, accepted as final by the company, covers property damage, inventory, and loss of profit associated with the event.The fire occurred at a plant adjoining Fine Organic Industries Limited's manufacturing facility located in Badlapur (East), Maharashtra.
According to the details provided regarding the incident resolution, the following financial information pertains to the claim:
| Financial Detail | Amount |
|---|---|
| Total Settlement Amount | INR 11,33,77,477/- |
| Insurer | Tata AIG General Insurance Company Limited |
| Scope of Loss Covered | Property damage, inventory, and loss of profit |
The company confirmed that the settlement amount of INR 11,33,77,477/-, which is equivalent to Rupees Eleven Crores Thirty-Three Lakhs Seventy-Seven Thousand Four Hundred and Seventy-Seven Only, was received from Tata AIG General Insurance Company Limited. The settlements related to the claim have been accepted as full and final by Fine Organic Industries Limited.
In terms of operational continuity, the company stated that while the fire incident caused a temporary disruption to operations at the affected plant, there was no loss of human life. Steps were taken to ensure the facility's refunctioning, and manufacturing activities at the plant were resumed. Management noted that there has been no material or significant adverse impact on the entity due to the fire incident.
FINEORG Stock Price Movement
Shares of Fine Organic Industries Limited today slipped by 1.05% to settle at ₹4816.5, finishing marginally lower from its previous close. The equity traded within the day’s range of ₹4800 to ₹4915 on a volume of 10,309 shares.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.
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