Delhi HC order favorable; Rs.5.52 cr deposit to be released with interest

Delhi High Court dismissed McNally Bharat's Section 34 petition as infructuous in its case against Metso India Pvt Ltd. Metso's claim from the 2018 arbitral award stands extinguished under the approved Resolution Plan. The Court ordered release of about Rs.5.52 crore deposited with the Court along with accrued interest to the Company. No adverse impact on financials or operations.