Pursuant to regulation 30 of SEBI (Listing Obligation an Disclosure Requirements), 2015: Intimation of the order received for the closure of the case.
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Syschem India has informed BSE that a cheque bounce case filed by QP Pharmachem against the company under Section 138 of the Negotiable Instruments Act has been settled and dismissed as withdrawn. The matter was heard at the Chief Judicial Magistrate Court in Derabassi, with the order dated October 17, 2025 and received on October 22, 2025. As part of the settlement, the company has already paid Rs. 3.95 crore out of a total settlement amount of Rs. 5.18 crore. An additional cheque of Rs. 1.22 crore has been issued to QP Pharmachem, but it will only be used if there is a dollar exchange rate difference for remittance to an overseas entity in China.
The case closure removes a long-pending legal overhang for Syschem India, but shareholders should note the company paid nearly Rs. 4 crore in settlement, representing a real cash outflow. The contingent Rs. 1.22 crore cheque adds some uncertainty depending on forex movements related to Chinese remittances.