Seamec Limited has informed the Exchange regarding 'Disposal off the petion filed by the Company under Section 9 of the Arbitration and Conciliation Act 1996'.
SEAMECLTD · price
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Awaiting price reaction for this filing.
Seamec Limited has informed the exchanges that its petition filed under Section 9 of the Arbitration and Conciliation Act, 1996, against Asian Energy Services Limited and Hardy Exploration & Production (India) Inc. has been disposed off by the Bombay High Court. The petition was related to the recovery of charter hire, and the dispute has now been mutually settled between Seamec and Asian Energy. The High Court passed the order on January 7, 2026, and Seamec received it the next day. The company has stated that no compensation or penalty was paid, and the settlement has no material impact on its financial position. The actual settlement amount has not been disclosed in the filing.
This brings closure to an ongoing legal dispute and removes litigation overhang, which is mildly positive. However, since the company says there is no material financial impact, the stock price is unlikely to react significantly.