DVB Bank is gaining control of five GOL Offshore ships to settle outstanding dues.
The vessels were the subject of a Bombay high court sales order in June.
The transfer of a sixth ship has not yet been confirmed.
The Indian shipowner has previously said an admiralty suit was filed in Bombay for the recovery of $44.4m lent by the bank to GOL, whose dues in July amounted to around $33m.
DVB
