Madras High Court issued interim order permitting consortium of banks to appropriate ₹15.69 crore from SEPC's Trust & Retention Account for resolution plan dues.
Court allowed SEPC Limited to utilize up to ₹2 crore exclusively for payment of outstanding employee salaries.
Directed Twarit Consultancy to deposit ₹2.5 crore with court and file affidavit on source of funds for ₹7.5 crore quarterly payments.
Matter pertains to enforcement of arbitral award indemnification agreement and is posted for next hearing on 23 June 2026.