Commercial appeal shared against dispossession of suit properties; interim stay granted

Material litigation update from A-One Steels India.

Sat 10 Oct 2026

Case Number

COM AP No. 100027/2026, High Court of Karnataka, Dharwad Bench

Interim Stay

Interim stay vide order dated 07.10.2026 granted

Next Hearing

04th November 2026

What has been disclosed

A-One Steels India Limited has intimated a material litigation to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Parties and forum

• Appellants: Basai Steels and Power Private Limited and A-One Steels India Limited.
• Respondents: Mrudul Agarwal, Piyush Agarwal, Pushpa Agarwal, Mayur Agarwal and M/s Edelweiss Asset Reconstruction.
• Court: High Court of Karnataka, Dharwad Bench.
• Case: Commercial Appeal bearing COM AP No. 100027/2026.

What the appeal seeks

The appeal has been shared before the Hon'ble High Court of Karnataka Dharwad Bench to set aside the order dated 10.08.2026 and to restore COM OS 13/2026 on the files of the learned Hon'ble III Additional District and Sessions Judge (Commercial) Court, Bellary, and to continue appropriate interim protection against dispossession of the Appellants from suit schedule properties.

Interim relief granted

The Hon'ble Court has taken up the matter and an interim stay has been granted in the said appeal until the next date of hearing. The interim stay is vide order dated 07.10.2026 in favour of the appellate, and the order was uploaded on the court website on 08.10.2026. The next date of hearing fixed by the Hon'ble Court is 04th November 2026.

Background as recorded in the court's order

The court record shows the matter as Pending. The recorded sequence is that the appellants instituted a suit before the Commercial Court invoking the Commercial Courts Act, 2015, seeking injunction against the respondents; the respondents shared an application under Order VII Rule 11 of the CPC seeking rejection of the plaint on the score that there was no commercial dispute as obtaining under the Commercial Courts Act subsisting in the proceedings. The Court allowed that application in part, and permitted the plaint to be presented before the appropriate Court having jurisdiction by passing an order under Order VII Rule 10 of CPC. The appeal is now before the High Court on the score of projection of an error by the hands of the concerned Court. The learned counsel submitted that throughout the proceedings before the concerned Court there was an injunction operating in favour of the appellants, and in the light of that submission the same would continue till the next date of hearing. Emergent notice has been issued to the respondents, returnable by 04.11.2026.

Financial impact as stated in the disclosure

• Expected financial implications, if any, due to compensation, penalty etc.: Not Applicable.
• Quantum of claims: the company states there is no as such specific quantum of claims being quantifiable at this point of time.

How a retail investor might read this

• This is a legal proceeding update in which the company figures as one of the Appellants, alongside Basai Steels and Power Private Limited.
• The relief sought relates to the forum hearing the underlying suit and to protection against dispossession from suit schedule properties, rather than to a quantified money claim against the company in this disclosure.
• An interim stay has been granted until the next date of hearing, so the position in the appellants' favour continues for now, while the appeal itself remains pending.
• The next scheduled step disclosed is the hearing on 04th November 2026.

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