Legal23 Oct 2026, 03:59 pm
Ashima Ltd Settles ₹7.5 Cr Dispute with HDFC Bank, BBK
AI Summary
Ashima Ltd has executed Consent Terms with HDFC Bank and Bank of Bahrain and Kuwait BSC to settle various legal cases pending since 2003. The settlement involves a net outflow of approximately ₹13.94 Crores. Ashima will pay ₹18.00 Crores to BBK, while receiving ₹4.06 Crores from HDFC Bank, which was held as a fixed deposit. The difference of ₹10.50 Crores will be accounted for as interest expense. This resolution aims to conclude prolonged litigation across multiple judicial forums.
Key Highlights
- Ashima Ltd settles long-standing legal disputes with HDFC Bank and BBK.
- Net outflow for settlement is approximately ₹13.94 Crores.
- ₹18.00 Crores to be paid to BBK, ₹4.06 Crores to be received from HDFC Bank.
- ₹10.50 Crores difference to be booked as interest expense.
- Settlement concludes litigation spanning several years.
Price Impact
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