Legal25 Jul 2025, 10:16 pm
Eveready Industries India Settles Arbitration Dispute for INR 15 Crore
AI Summary
Eveready Industries India Ltd. has entered into a settlement agreement with Real Touch Finance Limited in an arbitration matter regarding certain alleged dues under a facility agreement entered into by some of the promoters of the Company. The Company, which was not a party to the agreement, agreed to pay INR 15,00,00,000 and transfer certain loan receivables and recoverables to Real Touch. The settlement is without admission of liability and is in the commercial interest of the Company.
Key Highlights
- Eveready Industries India Ltd. settles arbitration dispute with Real Touch Finance Limited
- Company to pay INR 15,00,00,000 and transfer certain loan receivables and recoverables
- Settlement is without admission of liability
- Company has sufficient cash reserves / internal accruals
- Arbitration matter was in relation to certain alleged dues under a facility agreement entered into by some of the promoters of the Company