Tata Chemicals says Kenya High Court lacks jurisdiction over TCML dispute amid Magadi operations row
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Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Chemicals said on October 24 that the High Court of Kenya lacks jurisdiction over a dispute involving its subsidiary, Tata Chemicals Magadi Ltd.
- ✓The court order came on October 23.
- ✓The company said, "TCML is examining the order and will take legal and all other necessary steps."
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Tata Chemicals Ltd on Saturday (October 24) said the High Court of Kenya had ruled that it lacked jurisdiction over a dispute involving its Kenyan subsidiary, Tata Chemicals Magadi Ltd (TCML), and could not proceed further in the matter. The order was issued on October 23, according to the company's regulatory filing.
TCML is examining the court's order and will determine the legal and other measures required to address the matter, the company said in its disclosure to BSE Ltd and the National Stock Exchange of India Ltd under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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