Gaja Subsidiary Litigation Terminated by Madras High Court

Gaja Alternative Asset Management Ltd announced the outcome of a litigation involving its subsidiary, Gaja Trustee Company Private Limited. The matter pertained to execution proceedings before the Hon'ble High Court of Madras, where the subsidiary, along with other group companies, were award holders. A Joint Memo was executed between the award holders (Claimants) and judgment debtors (Respondents). The High Court has taken on record this Joint Memo and terminated the execution proceedings, closing connected applications. The company clarified that it is not a party to the proceedings, and any impact on the company or its subsidiaries will depend on the constitution documents of the claimants once amounts are received.