Madras High Court records Joint Memo, terminates execution proceedings involving subsidiary
Gaja Alternative Asset Management has informed the exchanges about an order of the Hon'ble High Court of Madras dated September 30, 2026.
- Court Order Date
- September 30, 2026
- Court
- Hon'ble High Court of Madras
- Joint Memo Parties
- Award holders (including Gaja Trustee Company Private Limited) and judgment debtors (SEPC Limited and Twarit Consultancy Services Private…
- Outcome
- High Court took the Joint Memo on record and terminated the referenced execution petitions, and closed the connected applications
- Company's Role
- The Company itself is not a party to these proceedings
What the company told the exchanges
Gaja Alternative Asset Management Limited has informed NSE and BSE about the outcome of a litigation matter involving its subsidiary. The disclosure follows the litigation matter that was covered under "Outstanding Litigation and Material Developments" in the Company's Prospectus dated August 21, 2026.
Who is involved
- Award holders (Claimants): Gaja Trustee Company Private Limited, acting as a trustee of Gaja Capital India Fund-I and a subsidiary of the Company, together with GPE (India) Limited and GPE JV1 Limited, which are group companies of the Company.
- Judgment debtors (Respondents): SEPC Limited (formerly Shriram EPC Limited) and Twarit Consultancy Services Private Limited.
- Authority: the Hon'ble High Court of Madras.
What happened
A Joint Memo dated September 30, 2026, executed between the Award Holders and the Judgment Debtors, was presented and shared with the Hon'ble High Court.
By a Common Order dated September 30, 2026, the High Court took the Joint Memo on record and, among other things, terminated the captioned execution proceedings. It also closed the connected applications.
The execution proceedings referenced by the Company were EP Nos. 91 and 92 of 2023, EP No. 7 of 2024, EP Nos. 15 and 16 of 2025, E.P.(SR) No. 126896 of 2026 and A. Nos. 2667 and 4112 of 2026.
What the Company says about impact
- The Company itself is not a party to the above proceedings; the Claimants are group companies of the Company.
- Any impact on the Company or its subsidiaries will be according to the constitution documents of the Claimants, once the amount is received by the Claimants from the Court.
- The update records no violation or alleged contravention (stated as NA) in this matter.
How a retail investor might read this
This is an update that a set of execution proceedings connected to the Company's subsidiary and group companies has been brought to a close by the High Court, based on a Joint Memo shared by both sides. The disclosure does not set out the amount involved or the terms recorded in the Joint Memo. It also states that any impact on the Company or its subsidiaries will depend on the constitution documents of the Claimants and on the amount being received by the Claimants from the Court.
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