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Timken India informed exchanges that the Gujarat High Court at Ahmedabad has upheld a Labour Court ruling

ICICIdirect Research 23 Jun 2026 DISCLAIMER

News: Timken India informed exchanges that the Gujarat High Court at Ahmedabad has upheld a Labour Court ruling in a long-standing employment dispute involving former employee Anil Ambalal Modi, who was terminated in 1995 by Antifriction Bearings Corporation Ltd. (now merged with Timken India). The Labour Court had earlier declared the termination illegal, ordered reinstatement, and awarded 65% back wages. The High Court has now upheld this order and further directed payment of regular wages from 2005 until the employee's superannuation. Timken received the order on 22 June 2026 and is currently assessing the financial impact, which has not yet been quantified. The company has indicated that it is likely to challenge the judgment through an appeal.

View: The development is a legal/compliance matter rather than an operational one. While the financial liability could increase due to the wage arrears and back-wage payments, the company has not yet quantified the impact. The near-term business operations remain unaffected.

Impact: Neutral

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