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.

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.