Madras High Court Lifts ₹154 Cr Receivables Attachment for SEPC
Madras High Court lifted the attachment on SEPC's ₹154 crore receivables and banking restrictions. The settlement of ₹149.5 crore was paid by a third party under a 2015 indemnity agreement, with no direct outflow for SEPC. This provides SEPC with greater financial flexibility.
The lifting of attachment on ₹154 crore receivables and banking restrictions has a substantial positive impact on the company's financial flexibility and operational capabilities.
The announcement details a significant legal relief for SEPC, with the lifting of attachment on receivables and banking restrictions, which is a strongly positive development.
SEPC Limited has announced a significant relief as the Hon'ble High Court of Madras, via a Common Order dated September 30, 2026, has brought closure to execution proceedings filed against the company. The Court has terminated all related Execution Petitions and closed pending applications following a Joint Memo of Compromise.
The attachment on SEPC's receivables totaling ₹154 crore has been removed with immediate effect, and all restrictions on its banking operations have been lifted. Notably, the settlement of ₹149.5 crore (comprising a ₹147 crore Demand Draft and ₹2.5 crore already with the Court) involved no direct monetary outflow for SEPC, as the entire amount was paid by another party under a 2015 indemnity agreement.
Commenting on the development, Mr. Venkataramani Jaiganesh, Managing Director, SEPC Limited, stated, "We welcome the order of the Hon'ble High Court of Madras, which brings these long-standing proceedings to a full and final closure. The matter has been settled with no direct cash outflow for SEPC, and the release of ₹154 crore of receivables, along with the lifting of all banking restrictions, gives the Company greater financial flexibility with immediate effect. With this matter now behind us, our focus remains firmly on project execution and on delivering sustainable growth for all our stakeholders."
In FY26, SEPC Limited reported Total Income of ₹1,085.8 crore, EBITDA of ₹108.9 crore, and Net Profit of ₹53.5 crore, compared to Total Income of ₹646.0 crore in FY25, with Net Profit more than doubling year-on-year.
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SEPC 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 high impact, which is the band that most often changes something.
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