Authority: High Court of Judicature at Madras
Order Date: 30-09-2026
Case Overview
- Petitioners: GPE (India) Ltd, GPE JV1 Ltd, and Gaja Trustee Company Private Limited (authorized signatory Mr. Abhinav Jain) filed Execution Petitions (EP Nos. 91, 92 of 2023; 7 of 2024; 15 & 16 of 2025) against Twarit Consultancy Services Private Limited, SEPC Limited, and numerous banks (Axis Bank, Punjab National Bank, Yes Bank, etc.) seeking attachment of assets and garnishment of sums ranging from Rs 2,83,41,80,550 to Rs 3,03,84,10,032.
- The petitions also included EP(SR).No.126896 of 2026 seeking leave to file further proceedings (Application No.4211 of 2026).
- A joint memo of compromise was filed, wherein award holders and judgment debtors agreed to settle the disputes for a total consideration of Rs 149.5 crore, comprising a Demand Draft of Rs 147 crore (DD SR.No.037797 dated 30.09.2026, drawn on Axis Bank, Nungambakkam) and a remaining Rs 2.5 crore fixed deposit referenced in A.No.1812 of 2026.
- Representation: Mr. Abhinav Jain appeared via video for petitioners; Ms. J. Kotteswari and Mr. Venkataramani Jaiganesh appeared in person for the judgment debtors. Counsel for petitioners included Mr. K. Gowtham Kumar and others.
Final Outcome
- The court terminated all listed Execution Petitions and the pending SR‑stage petition, ordering that all interim attachments be released.
- The Demand Draft and the Rs 2.5 crore fixed deposit are to be handed to the Registrar General, kept in an interest‑bearing account, and paid to the petitioners on filing of a memo, without reference to the respondents.
- The joint memo of compromise forms part of this order, and the matter is concluded.
Topics: Settlement, Execution Petition, Court Order