GARWARE OFFSHORE SERVICES LIMITED
Background and Previous Disclosure
The company refers to its corporate announcement made on September 30, 2026, where it informed the stock exchange that it had issued a Notice under the Insolvency and Bankruptcy Code, 2016 to Afcons Infrastructure Limited. The notice was for recovery of an amount of ₹3,04,59,761.44 plus interest, totaling ₹3,16,20,074.44.
Current Update and Settlement
Garware Offshore Services Limited has now arrived at a settlement with Afcons Infrastructure Limited. The settlement amount is ₹2,92,86,221.56, which is stated to be net of tax. This settlement represents a full and final settlement of all outstanding dues between the parties.
Financial Impact
The settlement results in the resolution of the previously disclosed claim of ₹3,16,20,074.44 for a net amount of ₹2,92,86,221.56 after tax considerations.