GP Petroleums Limited — Important, 11-02-2025: Updates

GP Petroleums Limited has received a favorable order from the National Consumer Disputes Redressal Commission (NCDRC) following the withdrawal of all revision petitions by Bajaj Allianz, leading to the dismissal of claims against the company. This resolution stems from a marine claim related to missing oil/materials, initially repudiated by Bajaj Allianz in 2011 after the company sought compensation through the District Forum. The District Forum's ruling, which mandated payment from Bajaj Allianz, was upheld by the State Commission. GP Petroleums is currently advancing execution petitions to recover insurance claims of approximately Rs. 2 crores, including interest since August 2013. The positive outcome may enhance the company's financial position, warranting investor attention.