DRAT accepts consent terms for Ashima's settlement with two banks

Consent Order AcceptedRegulatory & Legal View source PDF Explain this filing

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₹13.10

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Nifty Microcap 250market · in no size index; the smallest one is used+1.7%+2.9% vs market

Residential Commercial Projects peers, median of 66sector+1.6%+3.0% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 3.0 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 66Pending

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AI summary

Ashima filed consent terms with the Mumbai Debt Recovery Appellate Tribunal for cases involving HDFC Bank and Bank of Bahrain and Kuwait BSC. The tribunal made an oral order accepting the terms and allowing the cases to be withdrawn. Ashima handed BBK a Rs. 18 crore demand draft and plans to withdraw related civil suits. HDFC Bank is then expected to pay Ashima about Rs. 4.06 crore.

Likely market impact

The settlement should end related court cases and bring about Rs. 4.06 crore into Ashima, but Ashima has handed BBK a Rs. 18 crore draft.