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A lender group seeks ₹5,100 crore from the Supreme Court’s registry to settle part of ₹19,283 crore owed by Sterling Biotech, with a hearing set for March 23, 2026.
A consortium of lenders led by the State Bank of India has asked the Supreme Court to release ₹5,100 crore from the court’s registry, claiming it as part of ₹19,283.77 crore in outstanding dues from Sterling Biotech Ltd and its group companies.
The lenders, including several major banks, proposed a proportional distribution based on agreed terms: a 9% annual interest rate from non-performing asset dates, foreign loans converted at ₹63/$ (2015 rate), and adjustments for prior recoveries.
The court recorded the application, directed service to the Solicitor General, and scheduled a hearing for March 23, 2026.
Most lenders have accepted the formula, though a few have not formally confirmed.
Un grupo de prestamistas busca ₹ 5,100 crores del registro de la Corte Suprema para liquidar parte de ₹ 19,283 crores adeudados por Sterling Biotech, con una audiencia fijada para el 23 de marzo de 2026.