Legal15 Oct 2026, 06:01 pm
Samtex Fashions Subsidiary Loses DRT Case for ₹435 Cr Loan
AI Summary
Samtex Fashions Ltd has announced an update on a material litigation involving its wholly owned subsidiary, SSA International Ltd. The Debt Recovery Tribunal-III, Delhi, has allowed an application by NARCL (representing consortium bankers) against SSA International Ltd. and Samtex Fashions (as corporate guarantor). The subsidiary's counter-claim was dismissed. The aggregate amount involved in the litigation is approximately ₹435.02 Crore, plus costs and interest at 10% per annum. This ruling could have significant financial implications for the company.
Key Highlights
- Subsidiary SSA International and Samtex Fashions lost a DRT case.
- Litigation involves a loan amount of approx. ₹435.02 Crore.
- DRT-III allowed NARCL's application and dismissed the subsidiary's counter-claim.
- The ruling includes costs and future interest at 10% p.a.
Price Impact
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