We hereby inform the exchange on update on the earlier intimation submitted on Order from Hon''ble High Court of Madras under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) ....
SEPC · price
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SEPC Ltd has filed an update regarding an order from the Hon'ble High Court of Madras dated 30-04-2026. The court passed interim directions partially modifying its earlier attachment of SEPC's trade receivables of ₹154.63 crore. Under the new order: (1) the consortium of banks can appropriate up to ₹15.69 crore from the Trust & Retention Account towards resolution plan dues, (2) SEPC (JD2) is permitted to use up to ₹2 crore exclusively for salary payments, and (3) Twarit Consultancy Services (JD1) must deposit ₹2.5 crore with the court and disclose the source of ₹7.5 crore per quarter funds. The court noted that the consortium of banks failed to provide complete details of the Trust & Retention Account. SEPC states it has no direct financial impact as it is fully indemnified against matters arising from an Arbitral Award under a 2015 indemnification agreement. The matter is listed for further hearing on 23 June 2026.
The interim directions provide limited relief to SEPC by allowing salary payments despite the attached receivables. However, this remains an ongoing legal proceeding with the next hearing in June 2026, and shareholders should monitor developments as the court may issue further orders affecting the company's cash flows.