Legal3 Apr 2025, 05:28 pm
Silverline Technologies to Settle Rs 25.50 Crores Dues with Apex Urban Co-operative Bank
AI Summary
Silverline Technologies Ltd. has approved the settlement of dues of Rs 25.50 Crores owed to Apex Urban Co-operative Bank of Maharashtra and Goa. The company will enter into consent terms with the bank for a full and final payment of Rs 25.50 Crores. A sum of Rs 2 Crores will be paid in the next two weeks, followed by another installment of the same amount. The remaining amount will be paid by August 31, 2025. The settlement terms and conditions will be detailed in the consent terms before the High Court.
Key Highlights
- Silverline Technologies to settle Rs 25.50 Crores dues with Apex Urban Co-operative Bank
- The company will pay Rs 2 Crores in the next two weeks and another Rs 2 Crores thereafter
- The remaining amount of Rs 21.50 Crores will be paid by August 31, 2025
- The settlement terms and conditions will be detailed in the consent terms before the High Court
- The Board has authorized Mr. Manoj Sawant to enter, negotiate, facilitate or execute the agreements and documents on behalf of the company