Nyaya Mitra, a subsidiary of Share Samadhan which operates in the financial services sector, has secured a contract for litigation funding consulting on emerging claims, according to a PTI report. Share Samadhan is one if largest platforms for unclaimed investment recovery.
This includes damages valued at approximately Rs 1,240 crore, the PTI report said. Operated on a success-fee basis, the final fees for this engagement will be linked to the amount successfully recovered or the settlement achieved.
“This contract underscores Nyaya Mitra’s commitment to facilitating corporate claims and supporting clients in complex cases to assert their legal rights,” PTI reported Vikash Jain, co-founder and CEO of Share Samadhan, as saying.
The litigation funding consulting vertical at Nyaya Mitra primarily offers services in cases involving property disputes, high-stakes commercial disputes, family disputes, debt recovery, management disputes and arbitration cases.
According to Jain, Share Samadhan, which provides services related to the recovery of unclaimed investments, money and assets, is currently valued at approximately USD 17.5 billion and projected to reach USD 67.2 billion by 2037.
“One of the most significant impacts of litigation funding is its ability to make justice accessible to everyone, regardless of financial means,” Jain added.
Share Samadhan is a BSE listed firm. Its shares are listed on the BSE SME platform. According to exchange data, its shares made flat debut on the BSE SME last month. The Rs 24 crores public issue which was a fresh issue of 35 lakh shares, was subscribed more than 14 times. The company had said that it will utilize funds to invest in technology and cover expenses for an acquisition.
During Tuesday’s trade, Share Samadhan shares closed at Rs 68. According to Share Samadhan’s website, it serves a diverse range of asset classes. It has dealt with over 25,000 prospects and given solutions worth over Rs 600 crores so far.