SEPC: Madras HC settles disputes, lifts Rs 154 cr attachments
SEPC · price
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Madras High Court on Sep 30, 2026 approved a joint compromise memo settling all execution petitions against SEPC and others for Rs 149.5 crores. A demand draft of Rs 147 cr (Axis Bank) plus Rs 2.5 cr already in court will be paid to award holders. The entire settlement is paid by JD-1 Twarit Consultancy under a 2015 indemnity, so SEPC has nil direct outflow. Court terminated all petitions, closed applications, and lifted all interim attachments on receivables of about Rs 154 crores and all banking restrictions. Long-standing disputes with Gaja Capital and related award holders are fully concluded.
Positive: Rs 154 cr of attached receivables and banking restrictions freed with no cash cost to SEPC, closing a major overhang.