Kiri Industries

Indian dye company Kiri Industries has expressed full confidence in the Singapore International Commercial Court's (SICC) decision and hopes its China-linked partner would honour the "final outcome" of an 8-year old dispute. Kiri, a minority shareholder in Dystar, initiated a legal battle in 2015 against Senda, a subsidiary of China's largest dye firm Longsheng and Dystar's majority shareholder, accusing it of minority oppression through various actions in Singapore High Court. In 2017, the suit was transferred to the SICC due to its international elements and in 2018, the court issued its judgement for the case, stating they accepted most of the instances of commercial unfairness raised by Kiri. "We are delighted with how our suits have progressed through Singapore's courts to achieve a just outcome," said Manish Kiri, Chairman & Managing Director, Kiri Industries Limited. On March 3, 2023, the SICC delivered the final valuation of stake in Kiri's joint venture company DyStar ...

Once Nifty surpasses 12,160, we may see Nifty retesting of 12,220 - 12,250 levels

The stock is up 20% at Rs 576 after the Singapore court dismissed all the claims and counterclaims against promoters Pravin Kiri, Manish Kiri and others.

The stock hit a 52-week high of Rs 145, rallied 75% in past one week from Rs 83 on March 29, 2016.