Tech Mahindra will pay USD 89.5 million upfront for around 84.7 percent of CJS' stake. It will require the remainder of the stake over the next three years.
India's largest lender is expected to come out with its results on Friday afternoon. Bloomberg estimates suggest that the bank may report a net profit of Rs 2,585 crore.
A deal would mark the latest move by a Japanese firm to hive off struggling divisions to repair their finances, with Toshiba and Sony among a string of companies that have sold off assets in recent years.
EY Entrepreneur of the Year 2015 recognised and rewarded India's most exceptional entrepreneurs and business leaders who have brought about a change through their exemplary work, sheer grit and determination. Celebrating the success stories of these winners is the Passion to Win series showcasing India's best innovators and game changers.
The case was earlier settled in 2013, when the company agreed to pay USD 34 million to settle the lawsuit.