Varroc Engineering Provides Update on Outstanding Claim
Varroc Engineering Limited announced an update on an outstanding claim instituted by its step-down subsidiary, Varroc Electronics Romania S.R.L. ('VeR'), under a Supply Agreement with Opmobility Lighting Holding ('OP Mobility'), a Plastic Omnium Group Company. The claim relates to a dispute that initially began with Paris Commercial Court and has progressed to the Paris Court of Appeal.VeR initially sought a claim of Euro 76 million plus associated costs. OPMobility has filed an appeal and counterclaim. Currently, VeR is seeking a claim of Euro 39.16 million plus legal and other costs.
The financial implications of the claim are contingent on the final outcome of the proceedings. Varroc Engineering is evaluating the matter and exploring legal and contractual remedies.
Details of the dispute, as required by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, are presented below:
| S. No. | Particulars | Details |
|---|---|---|
| 1. | Brief details of dispute/litigation | |
| (a) | Nameof the opposing party | Opmobility Lighting Holding (' OP Mobility ') Plastic Omnium Group Company, a private limited liability company incorporated under the laws of France and registered with the Commercial and Companies Registry of Lyon under no. 908 521 651, having its registered offices at 19, boulevard Jules Carteret, 69007 Lyon, France. |
| (b) | Nameof Court/Tribunal/Agency | Paris Court of Appeal ('the Court') |
| (c) | Brief details of dispute/litigation | As previously communicated, VeR initially filed the claim against OPMobility before Paris CommercialCourt. Following a judgement, VeR appealed seeking a claim of EURO 76 million plus other costs, while OP mobility has also filed an appeal/ counterclaim. |
| 2. | Expected Financial Implications | Financial implications, if any, will depend on the outcome of the proceedings. The Company is evaluating the matter and exploring legal and contractual remedies. It intends to consider further legal steps to protect its interests. |
| 3. | Quantumof Claims | Euro39.16million plus legalandothercostsagainst original claim for Euro 76 million plus other costs lodged by VeR |
The update was disclosed on March 20, 2026.
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