Hind Rectifiers Limited announced that in reference to the earlier intimation given on February 2, 2023 under Regulation 30 of SEBI Listing Regulations 2015 relating to closing the manufacturing operations at Bhandup, the Notice of intended closure was issued to the workers working at the Bhandup plant, its registered Trade Union and the appropriate authorities in compliance with applicable laws. The Company was notified through the Assistant Labour Commissioner's office and the Company was called for conciliation proceedings. In spite of ongoing conciliation proceedings, the Unionized Workmen through Trade Union filed a complaint before the Industrial tribunal seeking interim relief and stay on the intended closure.

The Industrial tribunal passed an Interim order and imposed a stay on the intended closure of the manufacturing operations at Bhandup, thereby restraining the Company from closing its manufacturing operations at Bhandup. Aggrieved by the arbitrary order of the Industrial Tribunal, the Company has filed a writ petition challenging the impugned Interim order of the Industrial Tribunal and the same is pending before the Hon'ble Bombay High Court.