Protean eGov Technologies Limited (formerly known as NSDL E-Governance Infrastructure Limited) and Alankit Limited have reached a settlement for a sum of ₹38.06 Crores against the total claim raised by the Company for ₹68.5 Crores.
The settled sum consisted of ₹28.54 Crores offset as a counterclaim, and ₹9.52 Crores received from Protean eGov Technologies Limited post-settlement of the counterclaim.
The Bombay High Court allowed the parties to withdraw the captioned Commercial Arbitration Petition, on the ground of settlement, and Consent Terms have been filed in the Commercial Arbitration Petition under Section 9 of the Arbitration and Conciliation Act, 1996
The matter was adjudicated under a Commercial Arbitration Petition, filed under Section 9 of the Arbitration and Conciliation Act, 1996.
The disclosure was made to the exchange under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
