Silverline Technologies Limited witnessed its share price hit the upper circuit of 5% as of 3:06 PM on BSE. The movement followed the company’s announcement of a significant legal settlement, bringing closure to a long-standing financial dispute. This development has not only resolved a major liability but also opened the path for renewed focus on its core business initiatives.
The company informed exchanges that it has successfully closed its high-value litigation with Apex Urban Co-operative Bank (in liquidation) through a full and final court-recorded settlement. The agreement was finalised at ₹26 crore, considerably lower than the original claim of ₹35.98 crore, representing a reduction of nearly ₹9.98 crore.
Silverline Technologies has already disbursed ₹7 crore, including ₹2 crore via demand draft in April 2024 and ₹5 crore via cheque in May 2025. The remaining ₹19 crore is scheduled to be paid in structured tranches between October and November 2025, with all cheques drawn on Axis Bank. The company expects to fully clear the liability by November 20, 2025
As part of the consent terms recorded before the Hon’ble High Court of Bombay, the judgement creditor has withdrawn all civil and criminal proceedings. Upon final payment, Silverline Technologies will receive a No Dues Certificate and all mortgages and encumbrances previously registered against the company will stand released, ensuring complete legal closure.
The settlement eliminates a major legacy liability that had weighed on the company’s balance sheet for several years. It also enhances the company’s financial visibility for lenders, rating agencies, and institutional investors. Importantly, this resolution frees management resources to focus on growth initiatives in technology areas such as artificial intelligence, cloud services, and cybersecurity. The move is being seen as a significant step in strengthening corporate governance and improving capital allocation.
Silverline Technologies' share price hits upper circuit of 5% at ₹19.85 on BSE after announcing final settlement of ₹26 crore in a long-standing litigation.
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