Olectra Greentech Limited Impleaded as Respondent in Public Interest Litigation Over Land Allotment
Olectra Greentech Limited has been impleaded as a respondent in a Public Interest Litigation (PIL) filed before the Hon'ble High Court of Telangana. The litigation involves a challenge against the Telangana Industrial Infrastructure Corporation (TGIIC) regarding the acquisition and allotment of specific lands.The legal proceedings center on the acquisition of land by TGIIC and its subsequent allotment to various parties. Specifically, the dispute pertains to 150 acres of land situated at Seetharampur, Hyderabad, which were allotted to Olectra Greentech Limited for the construction of a Greenfield EV Manufacturing Facility.
The company is currently taking legal measures to defend its interests regarding this matter before the Telangana High Court.
Litigation Details
The following table provides the specific details regarding the ongoing legal proceedings:| Particulars | Details |
|---|---|
| Name of the Opposing Party | Ivlr. Perala Shekhar Rao |
| Court/ Tribunal/Agency | Hon'ble High Court of Telangana |
| Brief Details of Dispute | The Company has been impleaded as a Respondent along with other parties in a Public Interest Litigation (PIL) filed against Telangana Industrial Infrastructure Corporation (TGIIC). The litigation challenges the acquisition of certain lands by TGIIC and the allotment of said lands to various parties, including the 150 acres allotted to the Company at Seetharampur, Hyderabad for its Greenfield EV Manufacturing Facility. |
| Expected Financial Implications | Not Applicable |
| Quantum of Claims | Refer to brief details of dispute as specified above |
OLECTRA Stock Price Movement
Olectra Greentech Limited shares today tumbled 2.24% to settle at ₹1,349.90. The stock saw a total volume of 330,801 shares traded during the session.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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