Consent Terms shared before DRAT; demand draft of Rs. 18.00 Crores handed over to BBK
Ashima Ltd has shared its Consent Terms with HDFC Bank and Bank of Bahrain and Kuwait BSC (BBK) before the Debt Recovery Appellate Tribunal - Mumbai on 26th October, 2026.
By ScoutQuest · · 1 min read
- Settlement amount paid to BBK
- Rs. 18.00 Crores
- Consent Terms shared before DRAT
- 26th October, 2026
- DRAT order
- oral order in the open court accepting the Consent Terms and allowing withdrawal of the cases
Ashima Ltd has given an update on the settlement of its legal cases with HDFC Bank Limited and Bank of Bahrain and Kuwait BSC (BBK).
What the update says
- Consent Terms were executed with HDFC Bank and BBK on 22nd October, 2026 to settle various legal cases.
- These Consent Terms were shared before the Hon'ble Debt Recovery Appellate Tribunal - Mumbai (DRAT) at the hearing held on 26th October, 2026.
- The Hon'ble DRAT has passed an oral order in the open court accepting the submission of the Consent Terms and allowing withdrawal of the cases.
The money involved
- During the hearing, the company handed over a demand draft towards the settlement amount of Rs. 18.00 Crores to BBK, as provided for in the Consent Terms.
- Separately, HDFC Bank would pay an amount of approximately Rs. 4.06 crores, belonging to the company, as mentioned in the company's earlier intimation of 23rd October, 2026.
What happens next
- The company will now proceed to withdraw the civil suit pending before the Hon'ble Commercial Court, City Civil Court, Ahmedabad.
- The payment from HDFC Bank of approximately Rs. 4.06 crores is linked to the Hon'ble Court passing the order for withdrawal of that case.
In simple terms
The company has paid BBK Rs. 18.00 Crores to settle the cases, and the appellate tribunal has allowed the cases to be withdrawn. A further amount of approximately Rs. 4.06 crores is to come back to the company from HDFC Bank once the Ahmedabad civil suit is withdrawn by order of the Court.
Also from Ashima
Board meet on 29 October 2026 to consider unaudited results for quarter and half year ended 30 September 2026
26 Oct 2026
Consent terms executed with HDFC Bank and BBK to settle long-pending legal cases
23 Oct 2026
More numbers
- Settlement amount paid to Bank of Bahrain and Kuwait BSCRs. 18.00 Crores
- Amount HDFC Bank would pay to the companyRs. 4.06 crores
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