Updation on status of Arbitration Award disclosed on 21st January, 2025
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Awaiting price reaction for this filing.
Jyoti Limited has paid Rs. 1,45,74,291 to Bharat Heavy Electricals Ltd (BHEL) on 15th April 2025, pursuant to an arbitration award dated 20th January 2025. The dispute was heard before a Sole Arbitrator (Retd. Justice Jayant Nath) at New Delhi. The payment was made after deducting TDS at 10% on the interest component of Rs. 17,59,603. The company has stated that since the liability under the award has been fully discharged, there are no further financial, operational, or material implications. This is a follow-up disclosure to the original arbitration award announcement made on 21st January 2025.
Shareholders should note that the company has paid out approximately Rs. 1.46 crore to settle the arbitration dispute. Since this liability was already disclosed in January 2025 and has now been settled, the immediate impact on stock price is likely limited. The company has confirmed no further material impact from this matter.