Bombay High Court will hear Gini & Jony case on August 7

MUMBAI: The Bombay High Court will hear the case between Mumbai based kids' apparel retailer Gini & Jony and its lenders including Barclays Bank PLC and Canbank Factors Ltd on August 7.

The Kids apparel chain informed to the court that it is still in talk with its lenders to settle amicably the way it settled with Hong Kong and Shanghai Banking Corp. In the beginning of the month, the firm had settled its dues of around Rs 17 crore with HSBC.

But state run banks such as Punjab National Bank and the State Bank of India will have to wait as they have agreed to restructure the loans.

The apparel retailer agreed to finalise the terms of the deal and submit to the Bombay High Court. The company which failed to raise funds through a share sale despite registering for one has debt worth Rs. 120 crores on its books, said one of the lawyers involved in the case.

"We are in talks with Barclays Bank and CDR lenders, and will settle all the dues soon," said Devanshu Desai, Advocate appearing for Gini & Jony. SN Gupta & Co is representing Barclays Bank PLC in the case.