Litigation Details

Samtex Fashions Limited acted as Corporate Guarantor in the loan applications of its wholly owned subsidiary SSA International Ltd. Consortium bankers (later represented by NARCL) filed application bearing TA No. 446/2022 against the subsidiary and the company (as Corporate Guarantor). The subsidiary filed a counter claim bearing No. NDN/31/2023(TCC). Both matters were pending before Debt Recovery Tribunal-III, Delhi.

Recent Development

By Order dated October 3, 2026 (received by the company on October 15, 2026), DRT-III:

  • Allowed application TA No. 446/2022 in favour of NARCL
  • Dismissed counter claim CC No. NDN/31/2023 of the company
  • Ordered no costs

Financial Impact

The aggregate amount involved under the litigations is approximately ₹435.02 crore as mentioned in the DRT-III order. This amount is subject to:

  • Additional costs
  • Pendente lite interest @10% per annum
  • Future interest @10% per annum until payment in full

Financial impact on the company's position has not been quantified in the disclosure.