SMVD Poly Pack Files Suit Against Oriental Insurance Over Claim Short Payment
SMVD Poly Pack Limited has filed a lawsuit against Oriental Insurance Company Limited in the Hon'ble High Court of Kolkata regarding disputes related to an insurance claim payment. The litigation focuses on several aspects of the insurance claim, including short payments and various deductions made by the insurer when calculating the final claim money.The company is also claiming interest on the delayed payment of the insurance claim amount from Oriental Insurance Company Limited.
The financial implications and quantum of the claims being pursued by SMVD Poly Pack in this matter are as follows:
| Aspect | Details |
|---|---|
| Opposing Party | Oriental Insurance Company Limited |
| Court Jurisdiction | Hon'ble High Court of Kolkata |
| Claim Amount / Financial Implication | Rs. 38,77,86,775/- |
SMVD Stock Price Movement
The shares of SMVD Poly Pack Limited surged in post-market trading today, closing at ₹14.6 after gaining 1.56%. This strong finish saw the equity breach its annual resistance and hit a decisive 52-week high mark during today's 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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