Sterling and Wilson Renewable Energy Limited has provided an update on its ongoing litigation with Axis Bank. The Bombay High Court has issued an order regarding the Commercial Summary Suit. Leave to defend the Summary Suit has been granted to Axis Bank, subject to depositing ₹61,40,32,471 within six weeks. Further actions depend on this deposit, potentially transferring the suit or allowing Sterling and Wilson to pursue a decree.
Bombay High Court Order
The Bombay High Court has issued an order regarding the Commercial Summary Suit filed by Sterling and Wilson Renewable Energy Limited against Axis Bank Ltd.
Key Details of the Order
The court granted Axis Bank leave to defend the Summary Suit, conditional upon depositing ₹61,40,32,471 (Rupees Sixty One Crores Forty Lakhs Thirty-Two Thousand Four Hundred and Seventy One Only) within six weeks from December 4, 2025.
Subsequent Actions
If the deposit is made within the stipulated six-week period, the suit will be transferred to the list of Commercial Causes, and Axis Bank must file a written statement within four weeks from the date of deposit. However, if Axis Bank fails to comply with the deposit order within the specified timeframe, Sterling and Wilson Renewable Energy Limited is entitled to apply for an ex parte decree against Axis Bank, after obtaining a Non-deposit Certificate from the Prothonotary and Senior Master of the Court.
Source: BSE
