CDSL has informed the Exchange about the update on the Pending Litigation of the Company.
CDSL · price
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CDSL has provided an update on a long-running arbitration case originally filed by Mr. Ketan Shah. The claim was first withdrawn in April 2024, then reinvoked in July 2024 for Rs. 88.4 crore related to alleged misutilization of clients' securities by Anugrah Stock & Broking Pvt. Ltd., a third-party broker. Mr. Shah has now filed a fresh Statement of Claim seeking one of four alternative reliefs: Rs. 101.9 crore, Rs. 88.4 crore, or Rs. 33.9 crore — all with 18% interest till realization plus legal costs — or restoration of securities with corporate benefits. CDSL's management believes, based on its assessment, that the arbitration or its outcome will not have any adverse material impact on the company.
No immediate financial impact is expected as CDSL considers the case immaterial. However, the claim quantum is sizable (up to ~Rs. 102 crore plus 18% interest), so investors should monitor proceedings as adverse rulings, though unlikely per management, could affect financials.