Sheela Foam has informed that the District Consumer Disputes Redressal Commission, (‘DCDRC’), East Delhi, announced an order on March 11, 2024, in favor of the company in the matter of an insurance claim. A brief Order of DCDRC was uploaded on its website on April 3, 2024. As per the order, the company has been awarded compensation amounting to Rs 21,38,77,055 along with an interest rate of 10% from the date of rejection, July 27, 2020. Additionally, the company has been granted Rs 7,50,000 for mental anguish and losses, and Rs 2,50,000 for legal expenses. The detailed Order is yet to be uploaded on its website. In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as the SEBI Circular dated July 13, 2023, it has provided the requisite details in Annexure 1, enclosed. Furthermore, this information will be available on the company's official website at www.sheelafoam.com.
The above information is a part of company’s filings submitted to BSE.
