Ashima Limited vs HDFC Bank Limited & Anr on 26 October 2026

1. Present in Regular Appeal No. 86/2022 as under : Mr. Sarthak Shukla along with Ms. Sarrah Khambati & Ms. Samar Fatima i/b M/s. Wadia Ghandy & Co., Counsel for Appellant. Mr. Madhur Rai along with Ms. Sneha Nandgaonkar i/b M/s. PRS Legal, Counsel for Respondent No. 1. Mr. Gaurang Kinkhabwala along with Mr. R. J. Ghag, Counsel for Respondent No. 2.

Present in Regular Appeal No. 2/2018 as under :

Mr. Madhur Rai along with Ms. Sneha Nandgaonkar i/b M/s. P R S Legal, Counsel for Appellant. Ms. Sarrah Khambati & Ms. Samar Fatima i/b M/s. Wadia Ghandy & Co., Counsel for Respondent No. 1. Mr. Gaurang Kinkhabwala along with Mr. R. J. Ghag, Counsel for Respondent No. 2.

Present in Regular Appeal No.32/2018 as under :

Mr. Gaurang Kinkhabwala along with Mr. R. J. Ghag, Counsel for Appellant. Ms. Sarrah Khambati & Ms. Samar Fatima i/b M/s. Wadia Ghandy & Co., Counsel for Respondent No. 1. Mr. Madhur Rai along with Ms. Sneha Nandgaonkar i/b M/s. P R S Legal, Counsel for Respondent No. 2/BBK.

Parties are referred as they appear in Regular Appeal No. 86/2022.

2. Mr. Gaurang Kinkhabwala files his Vakalatnama in Regular Appeal No. 86/2022 on behalf of Respondent No. 2, which is taken on record.

3. The Learned Counsel for the Appellant, Mr. Sarthak Shukla, submits that he has instructions from the Appellant to withdraw the present appeal in view of the amicable settlement of all disputes

between parties. He would further submit that a “Consent Terms” dated 20.10.2026 has been executed by all parties.

The Learned Counsel for the Appellant files a pursis to this effect along with “Consent Terms”. Same is taken on record.

The prayer of withdrawal in Regular Appeal No. 86/2022 is not objected to by Counsel for other parties.

4. The Learned Counsel for the Respondent No. 2 would submit that the parties to the Appeal have amicably settled all their disputes and have arrived at a settlement. He further submits that I.A. No. 630/2026 has been filed along with a copy of the Consent Terms dated 22.10.2026 in Regular Appeal No. 32/2018.

The Learned Counsel for Respondent No. 2 submits that, although the prayer in paragraph 6 (B) of the application I.A. No. 630/2026 in Regular Appeal No. 32/2018 is for disposal of the Appeal but he seeks permission to withdraw the Regular Appeal No. 32/2018 in terms of the “Consent Terms” dated 22.10.2026 filed along with the application.

The prayer is not objected to by the Counsel for other parties.

5. The Learned Counsel for Respondent No. 1 (Appellant in Appeal No. 2/2018), Mr. Madhur Rai presses I.A. No. 631/2026 for withdrawal of Appeal No. 2/2018.

The prayer is not objected to by the Cousnel for other parties.

6. Accordingly, I.A. No. 630/2026 in Regular Appeal No. 32/2018, I.A. No. 631/2026 in Regular Appeal No. 2/2018 and Pursis in Regular Appeal No. 86/2022 are allowed.

7. In view of the settlement arrived at between the parties, Regular Appeal Nos. 86/2022, 2/2018 and 32/2018 are dismissed as withdrawn, in view of the “Consent Terms” dated 22.10.2026.

All pending I.As. if any, in all above three Appeals stand disposed of accordingly.

8. The parties shall abide by and comply with the terms of the said “Consent Terms”.

9. The Learned Counsel for Respondent No. 2 (Appellant in Regular Appeal No. 32/2018) hands over a demand draft for a sum of ₹18,00,00,000/- (Rupees Eighteen Crores only) to the Learned Counsel for Respondent No. 1, Mr. Madhur Rai, who acknowledges receipt of the same. Sd/- Chairperson 26.10.2026

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