Manali Petrochemicals Limited Secures Interim Stay on Court Order Following Writ Appeal Hearing
Manali Petrochemicals Limited has received a significant development regarding ongoing litigation, with the Division Bench of the Madras High Court granting an interim stay on a previous order.The company had filed a Writ Appeal (WA No. 1538 of 2026) before the Madras High Court against an earlier order dated March 25, 2016, which was passed in W.P. No. 5850 of 2016.
Manali Petrochemicals Limited confirmed receiving a court order on June 15, 2026. The Division Bench granted an interim stay on the said order, contingent upon compliance with specific conditions directed by the Court. The matter has subsequently been posted for further hearing before the High Court.
The company is actively managing the legal proceedings. Manali Petrochemicals Limited's legal counsel is focused on pursuing the matter, thoroughly assessing the legal and financial implications involved, and advising on next steps. Management stated that further updates will be provided as material developments occur.
MANALIPETC Stock Price Movement
Manali Petrochemicals Limited shares slipped today by 2.95%, closing at ₹64.23 after shed ₹1.95 from the previous close. The stock saw robust trading activity in its session, with a volume of 293,290 shares recorded.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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