Pasari Spinning Mills Ltd — Important, 14-01-2026: Company Update

Pasari Spinning Mills received a Proclamation of Sale from the Mysuru Commercial Court regarding alleged dues of ₹7.03 crore to Cotton Corporation of India, with industrial plots slated for auction. The company appealed this, citing its past 'sick industry' status and challenging the arbitration process. The Karnataka High Court has now granted an interim stay on the sale proceedings in Com. Ex. No. 249/2023, conditioned upon the company providing security. This temporary relief halts the immediate threat of asset sale as the legal challenge continues.