SEPC LIMITED : MADRAS HIGH COURT LIFTS ATTACHMENT ON RS 154 CRORE RECEIVABLES

• Major relief for SEPC as Madras High Court lifts attachment on ₹154 crore receivables following dispute settlement. • Attachment on company's receivables of ₹154 crore removed with immediate effect, banking operations restrictions lifted. • Settlement involves no direct monetary outflow for SEPC, as another party paid settlement amount under a 2015 indemnity agreement. • Total settlement of ₹149.5 crore agreed, comprising ₹147 crore demand draft and ₹2.5 crore lying with court. • All interim attachments raised, releasing receivables of ₹154 crore with immediate effect. • All proceedings closed, including execution petitions and pending applications.

SEPC Limited

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