Refex Renewables & Infrastructure Limited has filed a regulatory disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 regarding the settlement and withdrawal of all legal proceedings involving its strategically important step-down wholly-owned subsidiary, Sherisha Solar LLP (SS-LLP).

The disclosure states that this is a continuation of earlier intimations dated November 18, 2025, February 04, 2026, August 08, 2026, and August 14, 2026.

Settlement Details

Pursuant to a Binding Memorandum of Understanding dated August 07, 2026 (MOU) and definitive agreements executed on August 14, 2026, the parties involved filed a Joint Memo stating they have arrived at a settlement in relation to their disputes. The parties included:

  • SILRES Energy Solutions Private Limited (SILRES)
  • Sherisha Solar LLP (SS-LLP)
  • Refex Renewables & Infrastructure Limited (RRIL)

Legal Proceedings Withdrawn

The following legal proceedings have been withdrawn/disposed of:

1. Petition No. CP/IB/338(CHE)/2025 - Filed by SILRES against SS-LLP under Section 7 of the Insolvency and Bankruptcy Code, 2016

2. Application under Section 65 of IBC - Filed by SS-LLP against SILRES under Section 65 of the Insolvency and Bankruptcy Code, 2016

3. Petition No. CP/(CA)/129(CHE)/2025 - Filed by RRIL against SILRES under Sections 241 and 242 of the Companies Act, 2013 (Oppression & Mismanagement petition)

NCLT Order

The Hon'ble National Company Law Tribunal, Chennai Bench, vide its order dated August 17, 2026 (received by the company on August 19, 2026), has taken on record the settlement arrived at between the parties and disposed of/allowed the withdrawal of the respective proceedings in terms of the settlement.

Corporate Structure Clarification

Sherisha Solar LLP is described as "a strategically important step-down wholly-owned subsidiary of the Company (through Refex Green Power Limited, a wholly owned subsidiary of the Company)."

Outcome

The above actions mark the closure of disputes and litigations between all parties involved. The disclosure does not quantify any financial impact of the settlement.