Silverline Technologies Settles Multi-Crore Dispute with Apex Urban Co-operative Bank

Silverline Technologies has concluded a Rs 26 crore settlement with the Apex Urban Co-operative Bank, resolving lingering litigation over a Rs 35.98 crore claim. This settlement strengthens the company's financial standing and resolves all legal proceedings. The company has structured payment tranches due in 2025 to complete the settlement.

Devdiscourse News Desk | New Delhi | Updated: 10-09-2025 18:46 IST | Created: 10-09-2025 18:46 IST

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Silverline Technologies announced on Wednesday the conclusion of a Rs 26 crore settlement with Apex Urban Co-operative Bank. This resolves an extensive litigation involving a claim of Rs 35.98 crore. The finalized agreement was officially recorded in court, as noted in an exchange filing.

The settlement involves an initial disbursement of Rs 7 crore by Silverline and a remaining Rs 19 crore to be paid in structured tranches. Scheduled payments include Rs 11 crore in October 2025 and Rs 8 crore in November 2025, facilitated through post-dated cheques, the company confirmed in their statement.

Yakin Joshi, Managing Director of Silverline Technologies, indicated that this resolution not only eliminates a long-standing liability but also enhances the company's capital structure and financial transparency. Silverline, a technology consultation firm, reported revenue from operations of Rs 100.08 crore for the quarter ending June 2026.

(With inputs from agencies.)