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Honasa Consumer Limited, the parent company of MamaEarth, secured a decisive arbitration victory on Thursday against its former Dubai-based distributor RSMM General Trading LLC, with the arbitral tribunal awarding the company AED 7,254,340 (approximately ₹18.88 crore).
The final award, passed on May 14, 2026, by sole arbitrator Justice (Retd) Hrishikesh Roy, a former Supreme Court judge, ruled entirely in Honasa’s favour.
The tribunal declared that Honasa’s termination of the Authorised Distributor Agreement (ADA) with RSM was valid, and that RSM had breached the arbitration and exclusive jurisdiction clauses of the agreement by approaching the Dubai courts. RSM has been permanently restrained from initiating or continuing any proceedings before the Dubai courts.
Arbitration Relief
The monetary award includes AED 4.34 million towards loss of profits from RSM’s contractual breaches, AED 1.56 million for litigation costs in Dubai and India, AED 1.06 million for substitution costs, and ₹76.5 lakh towards arbitration costs. Post-award interest kicks in if amounts remain unpaid beyond 30 days.
The dispute dates to 2020, when RSM and Honasa entered an authorised distributor agreement for the UAE market. Following termination of the agreement, RSM sued in Dubai, initially winning a judgment of AED 25 million at the Court of First Instance in May 2024. That figure was substantially reduced to AED 1.7 million by the Court of Appeal in February 2026, a decision Honasa has separately challenged before the Cassation Court, with a judgment due June 17, 2026.
Honasa’s stock closed at ₹353 on the NSE on Friday, up marginally, touching a 52-week high of ₹364.70 intraday. The stock has gained nearly 39 per cent over the past year and trades at a trailing P/E of 73.72, with a market capitalisation of approximately ₹11,486 crore.
Published on May 15, 2026
English (US) ·