GE Power India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
GVPIL · price
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GE Power India informed exchanges about the status of petitions it filed before the Delhi High Court against Jaiprakash Power Ventures Limited (JPVL) under Section 9 of the Arbitration and Conciliation Act, 1996. The company was seeking an injunction to stop JPVL from invoking bank guarantees worth about ₹77.49 crore that GVPIL had submitted under their contracts. Initially, the court granted an injunction in GVPIL's favour on August 1 and 4, 2025. In a later hearing, the court appeared inclined to vacate this protection, but allowed GVPIL to deposit ₹77.49 crore with JPVL in exchange for the return of the un-encashed bank guarantees. The petitions have now been disposed of on these terms, and the order was uploaded on the High Court website on August 27, 2025. The company is evaluating further steps.
Neutral to slightly negative for shareholders — GVPIL secured a modified court order in its favour, but the arrangement means the company must deposit ~₹77.49 crore with the counterparty, tying up working capital. The matter is not fully resolved, and further legal action is being considered.