Outcome
Awaiting price reaction for this filing.
Silverline Technologies' board on April 3, 2025 approved a full and final settlement of Rs 25.50 Crore owed to Apex Urban Co-operative Bank of Maharashtra and Goa. The company has already paid Rs 2 Crore via demand draft in December 2024, will pay another Rs 2 Crore within two weeks, and the remaining Rs 21.50 Crore by August 31, 2025. The settlement is being negotiated with the bank's Official Liquidator, Mr. Sanjeev Khadke, and consent terms will be signed before the Honorable High Court. The board authorised Mr. Manoj Sawant to execute the necessary documents. The involvement of an Official Liquidator indicates the bank itself is under liquidation, and the court-supervised settlement suggests the debt was in default.
This is a positive step as it puts a clear closure plan on a long-pending liability, but the company will face significant cash outflow of Rs 23.5 Crore over the next five months, which could pressure liquidity. Shareholders should watch for any impact on the company's working capital and operations due to this large payout.