Silverline Technologies Ltd, one of Ketan Parekh’s K10 stocks, has successfully

finalized a Rs. 26-crore settlement with the Apex Urban Co-operative Bank

Company has disbursed Rs. 7 crore under the settlement and balance Rs. 19 crore to be paid on or before 20 November 2025 through post-dated cheques

India, September 10, 2025: One of Ketan Parekh’s K10 Stock - Silverline Technologies Ltd (BSE – 500389), technology consulting, software and business solutions company has achieved a successful closure of Rs. 26-crore settlement with the Apex Urban Co-operative Bank (In liquidation). The original claim of the litigation was Rs. 35.98 crore.

Company achieved the successful closure of a long standing legal and financial matter involving Apex Urban Co-operative Bank of Maharashtra and Goa Ltd (in liquidation), through a court-recorded full and final settlement. This strategic resolution was entered into through Consent Terms recorded before the Hon’ble High Court of Bombay, under Execution Application No. COMEX/6/2025 with IA No. 3637/2024

The company has already disbursed Rs. 7 crore under the settlement and balance Rs. 19 crore to be paid in structured tranches, Rs. 11 crore in October 2025 and Rs. 8 crore in November 2025 through post-dated cheques. All cheques are drawn on Axis Bank, Ram Maruti Road, Thane Branch, and the entire amount will be cleared on or before 20 November 2025, as per the Consent Terms recorded before the Hon’ble High Court.

The Board of Directors, at its meeting held on 4 September 2025, unanimously approved the settlement and authorized Mr. Yakin Kumar Bansilal Joshi undertake all actions necessary to finalize and fulfill the settlement terms on behalf of the Company, including appearance before legal and regulatory bodies.

Commenting on the important development, Mr. Yakin Joshi, Managing Director, Silverline Technologies Ltd said, “The successful settlement with Apex Urban Co-operative Bank marks a transformative milestone for Silverline Technologies Ltd., reflecting its commitment to governance, fiscal discipline, and shareholder value creation. This resolution eliminates a long-standing liability, strengthens capital structure, and enhances financial visibility with lenders, rating agencies, and investors. It also frees management bandwidth and resources, enabling sharper focus on core growth initiatives in AI, cloud services, and cybersecurity solutions.

Full Legal Closure and Withdrawal of All Proceedings

• The Judgement Creditor has formally withdrawn all civil and criminal proceedings (including those under the Negotiable Instruments Act).
• The Hon’ble High Court has acknowledged the execution of consent and recorded satisfaction of terms.
• Upon final payment, the Company will be issued a No Dues Certificate, and all mortgages and encumbrances previously registered shall stand released

 Company has reported a strong growth for the Q1FY26 for the quarter ended June 30, 2025. On Y-o-Y comparison, Revenue from operations of the company during Q1FY26 has risen to Rs. 100.08 crore, representing a robust growth of over 100 times from the revenue from operations of Rs. 75 lakh in the corresponding period last year. Net Profit of the company during Q1FY26 also rise to Rs. 11.14 crore as against net profit of Rs. 2 lakh in the corresponding period last year.

Silverline Technologies Ltd, formerly known as Silverline Industries Ltd., is a global technology consulting, software, and business solutions company. Silverline Technologies enables the successful digital transformation of businesses facing significant disruption fuelled by technology and cultural change. Silverline Technologies is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match.

Post 2019, company utilizes emerging technologies to create new customer experiences, achieve cost efficiencies, and gain competitive advantage. This, along with its key technology partnerships and investments in areas such as SAP, AI & Cognitive Computing, ML, Analytics, Intelligent Automation, Blockchain, IoT, Security, and cloud technologies, Cyber Security delivers innovative processes and solutions globally that result in significant market impact.

Silverline Technologies was India’s first company to be listed in NYSE. Silverline Technologies was rated as the 7th largest software company in India by NASSCOM in 2002. Company with more than 28 years of industry experience has delivered its software services to Fortune 100 companies with over 3700 consultants in the year 2000. Company brings business expertise to clients in the Retail, Consumer Goods, Building Materials, Banking, Insurance, High-tech, Engineering, Manufacturing, Automotive, Hospitality industries across United States, India, Canada, UK, Germany, Hong Kong, Japan, and Egypt.

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