Central Depository Services Reports Conclusion of Arbitration Proceedings
Central Depository Services (India) Limited detailed the final status of an arbitration proceeding in a recent update. The proceedings, which were initially intimated on May 29, 2025, involved a claim against the company.The details concerning the development in the arbitration case are presented below. The claim was filed by Mr. Kamal R. Bulchandani, Mrs. Kavita K. Bulchandani, and Ms. Loshika K. Bulchandani. They sought indemnity of claim aggregating to Rs. 19,29,71,820.98/-. This claim, noticed on February 25, 2025, included interest at a rate of 18% until realization, concerning alleged losses from the misutilization of clients' securities by Anugrah Stock & Broking Private Limited.
The matter progressed when the claimant filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, seeking directions from the Hon'ble Bombay High Court regarding the constitution of the arbitral tribunal. The Hon'ble Court issued an order on January 20, 2026, directing the parties to constitute the arbitral tribunal according to the Court's guidelines. Subsequently, the arbitral tribunal was formally constituted on February 24, 2026, following which the parties filed fresh pleadings.
The proceedings reached a conclusion when the Claimant requested the tribunal for the unconditional withdrawal of the claim on March 23, 2026. The Arbitral Tribunal subsequently passed an Order on April 06, 2026, which was received on April 07, 2026. This order allowed the withdrawal of the claim based on the Claimant's request. Consequently, the arbitration claim stands disposed of with effect from April 06, 2026.
The conclusion of the arbitration claim is noted, given that the claim amount was in close proximity to the materiality threshold.
The update regarding the litigation status is summarized in the table below:
| Particulars | Details |
|---|---|
| The details of any change in the status and / or any development in relation to such proceedings | The initial claim of Rs. 19,29,71,820.98/- against CDSL, seeking indemnity of claim with interest @ 18% till realization, is disposed of effective April 06, 2026, following the withdrawal request by the Claimant. |
| In the case of litigation against key management personnel or its promoter or ultimate person in control | Not Applicable |
| In the event of settlement of the proceedings | Not Applicable |
CDSL Stock Price Movement
Shares of Central Depository Services (India) Limited are edging higher to ₹1296.7 as of 11:57 AM today, up 1.36% or ₹17.40. Activity remains strong in live trading, with the equity posting a volume of 1.43 million shares.Source:
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