SEPC Ltd Settles Disputes for ₹149.5 Crores, Lifts Attachments

SEPC Ltd has announced the settlement of long-standing disputes through a Joint Memo of Compromise presented to the Hon'ble High Court of Madras. The settlement involves a total consideration of ₹149.5 Crores, comprising a Demand Draft of ₹147 Crores and ₹2.5 Crores held by the court. This resolution leads to the termination of all related execution petitions and pending applications, and crucially, the lifting of all attachments on SEPC's receivables, valued at ₹154 Crores. The company states there is no direct monetary outflow from SEPC as the payment is covered under a 2015 indemnity agreement. Banking operations restrictions have also been lifted.