Rossari Biotech Serves Petition in Challenge to Unitop Chemicals Arbitration Award
Rossari Biotech Limited is facing legal challenges concerning an arbitration award related to its subsidiary, Unitop Chemicals Private Limited. The company was served with a petition on June 04, 2026, by the Sellers, challenging the Arbitral Tribunal's decision.The dispute originated from the share purchase agreement (SPA) executed between Rossari Biotech and the existing shareholders of Unitop Chemicals Private Limited. This material unlisted subsidiary is owned by several individuals listed in the SPA.
Rossari Biotech had previously informed stakeholders regarding the initiation of the Arbitration Proceedings, following the signing of the SPA on June 02, 2021. The Sellers involved include Barkur Dharmaraj Shetty, B.D. Shetty HUF, Saibala Dharmaraj Shetty, Rajeshwari D Shetty, Jeenanath Dharmaraj Shetty, and Balakrishna Barkur Shetty.
The company had earlier provided an update regarding the passage of a final award by the Arbitral Tribunal in January 2026. This latest development sees the Sellers challenge that award through a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996.
ROSSARI Stock Price Movement
Shares of Rossari Biotech Limited slipped by 0.62% on Thursday, settling at ₹526.7 after shedding ₹3.25. The stock finished trading with a volume of 53143 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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