Crompton Greaves Consumer Electricals Limited has announced the outcome of legal proceedings involving Variety Agency and two of its partners. The XXXV Metropolitan Magistrate Court in Chennai has acquitted the accused in a case pertaining to a ₹6,54,276 cheque dispute. The company confirmed that despite the acquittal and the associated financial loss, there is no material impact on its ongoing operations or overall financial health.
Court Verdict Overview
On April 8, 2026, the XXXV Metropolitan Magistrate Court (FTCII) in Egmore, Chennai, delivered its judgment regarding a case initiated by the company under Section 138 of the Negotiable Instruments Act. The court found that the accused were not guilty in relation to the dishonoured cheque, bearing number 407640 and dated January 29, 2025.
Financial and Operational Implications
The legal proceedings were originally launched to recover dues amounting to ₹6,54,276. Following the court’s decision to acquit the accused, this amount is now considered a financial loss for the company. However, management has clarified that this loss does not have a material impact on the firm’s broader financial standing, daily operations, or strategic activities.
Conclusion
The company received formal notification of this order on April 9, 2026. With the closure of this specific legal matter, the company continues its focus on its primary business operations across the consumer electricals sector.
Source: BSE
