Ashima Ltd Files Consent Terms with DRAT, Pays ₹18 Cr

Ashima Ltd has filed the Consent Terms executed with HDFC Bank and Bank of Bahrain and Kuwait (BBK) before the Debt Recovery Appellate Tribunal (DRAT) in Mumbai. The company also handed over a demand draft of ₹18.00 Crores to BBK as per the settlement terms. The DRAT has passed an oral order accepting the Consent Terms and allowing the withdrawal of related cases. Ashima Ltd will now proceed to withdraw a civil suit pending before the Commercial Court in Ahmedabad. Following the withdrawal of this suit, HDFC Bank is expected to release approximately ₹4.06 Crores belonging to Ashima Ltd.