Kirloskar Oil Engines discloses a Deed of Family Settlement (DFS) from September 11, 2009, following clarifications from SEBI and a Bombay High Court order dated September 23, 2025. The disclosure is subject to disclaimers clarifying that the company does not admit the DFS’s contents or binding nature. This addresses regulatory requirements concerning disclosure of agreements impacting management or control.
Family Settlement Deed Disclosure
Kirloskar Oil Engines Limited has disclosed a Deed of Family Settlement (DFS) dated September 11, 2009, entered into amongst individual members of the Kirloskar family. This disclosure adheres to regulatory requirements following clarifications obtained from SEBI and directives from the Hon’ble Bombay High Court.
Background and Court Order
The disclosure is related to a Writ Petition filed by Kirloskar Oil Engines challenging the validity of regulations concerning the disclosure of agreements. During the hearing, SEBI clarified that mere disclosure of an agreement by a listed entity doesn’t automatically imply that the entity admits to its binding nature or impact on management. The High Court’s order on September 23, 2025, acknowledged these clarifications.
Disclaimers and Clarifications
Kirloskar Oil Engines emphasizes that the disclosure of the DFS is subject to the following disclaimers:
- The company does not admit to the contents of the DFS.
- The company states the DFS is not necessarily binding on it.
- The company does not believe the DFS impacts its management or control.
The company expressly states that it is not a party to the DFS, has not taken it on record, or ratified it, and does not agree to be bound by it. The company also does not admit that the DFS is binding or has any impact on its management, control, or creates any liability whatsoever.
Source: BSE
