CDSL Arbitration Case Disposed as Claimant Withdraws Claim
CDSL's arbitration case initiated by Mr. Kamal R. Bulchandani and others, seeking ₹19.29 crore in indemnity, has been disposed of. The claimants requested unconditional withdrawal of their claim, which was allowed by the Arbitral Tribunal on April 06, 2026.
The arbitration proceeding has been withdrawn and disposed of, meaning there is no financial impact on the company as no settlement or penalty was paid. The matter is now closed.
The arbitration case has been withdrawn and disposed of, which removes a potential financial liability and associated uncertainty for the company. However, since the claim was withdrawn rather than dismissed on merits, and the original claim amount was significant, the sentiment is neutral.
Central Depository Services (India) Limited (CDSL) has announced the disposal of an arbitration proceeding initiated against the company. The proceedings were initiated by Mr. Kamal R. Bulchandani, Mrs. Kavita K. Bulchandani, and Ms. Loshika K. Bulchandani, who had sought an indemnity claim aggregating to ₹19.29 crore (as of February 25, 2025) with interest at 18% per annum for alleged losses arising from the misutilisation of clients’ securities by Anugrah Stock & Broking Private Limited.
The claimants had filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, seeking directions from the Hon’ble Bombay High Court for the constitution of an arbitral tribunal. The Hon’ble Court, via an order dated January 20, 2026, directed the parties to constitute the tribunal, which was duly constituted on February 24, 2026. Subsequently, the Claimant requested the tribunal for an unconditional withdrawal of the claim on March 23, 2026.
The Arbitral Tribunal, by its Order dated April 06, 2026 (received on April 07, 2026), allowed the withdrawal of the claim. Consequently, the arbitration proceeding stands disposed of with effect from April 06, 2026. This disclosure is made as the claim amount was in close proximity to the materiality threshold.
What to do with a filing like this
Central Depository Services (India) Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Central Depository Services (India) Limited. Read the original for the full detail.