SYSyschem India531173Legal settlement news

Full and final settlement amount of Rs. 1.25 crore paid; NCLT withdrawal to be shared

Syschem (India) Ltd has paid the full and final settlement amount in the Lotus Builders matter.

By ScoutQuest · Fri 16 Oct 2026, 1:26 PM IST · 2 min read

Settlement Amount Paid

Rs. 1.25 crore (Rupees One Crore Twenty-Five Lakhs Only)

Matter / Counterparty

Lotus Builders matter, M/s Lotus Builders

Next Step

File appropriate applications before the Hon'ble NCLT for withdrawal/disposal of the pending matter

What the company has disclosed

• The company has paid the full and final settlement amount of Rs. 1.25 crore (Rupees One Crore Twenty-Five Lakhs Only) in the settlement agreement with M/s Lotus Builders.
• The payment is stated to be in accordance with the terms of the settlement agreement.

What happens next

• With the payment made, the company shall initiate the necessary proceedings and file the appropriate applications/documents before the Hon'ble National Company Law Tribunal (NCLT) for withdrawal/disposal of the pending matter.
• The company shall keep the exchange informed and make the necessary disclosure upon the passing of the appropriate order by the Hon'ble NCLT disposing of the matter.

Details given in the annexure

• Parties: M/s Lotus Builders and Syschem (India) Limited.
• Current status of the case: the company has paid the full and final settlement amount of Rs. 1.25 crore.
• Expected financial implications: settlement amount of Rs. 1.25 crore paid in full and final settlement, in accordance with the settlement agreement.
• Next status: Update of appropriate applications before the Hon'ble NCLT for withdrawal of the pending matter.
• Further updates: the company shall intimate the exchange upon further developments, including the passing of the appropriate order by the Hon'ble NCLT.

The numbers in one place

• One payment figure appears in this update: Rs. 1.25 crore, described as the full and final settlement amount. This is the amount the annexure lists under expected financial implications.
• The update does not put a date on when the NCLT applications will be shared or when the order is expected; it only says the company will disclose once the order is passed.

How a retail investor can read this

• This is an update to an earlier disclosure. What has changed is the status: the settlement amount has now been paid, and the matter is to be taken to the Hon'ble NCLT for withdrawal.
• The update records the outcome as a settlement between the two parties; the case is not yet shown as disposed, since that depends on the Hon'ble NCLT passing the order.

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