Sterlite Technologies Limited has informed the Exchange about arbitral award passed in favour of the Company
STLTECH · price
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Sterlite Technologies (STL) has won an arbitration case against Bharat Sanchar Nigam Limited (BSNL) at the Delhi International Arbitral Centre. The dispute was about non-payment of annual maintenance contract (AMC) dues worth INR 11.12 Crores related to a GPON equipment supply and installation project in BSNL's North India network. The Sole Arbitrator, retired Justice Manmohan Singh, passed the award in STL's favor on June 23, 2025. STL has been awarded INR 9.06 Crore towards its dues, plus INR 0.96 Crore for bank guarantee maintenance costs, release of a INR 7.7 Crore bank guarantee, and 12% interest from August 2016. The case pertains to the Global Services Business vertical, which has since been demerged into STL Networks Limited effective March 31, 2025.
Positive for STL Networks Limited (the demerged entity) which will receive the awarded amount and interest. Existing STL shareholders may see limited direct financial benefit since this vertical has already been demerged, though it could reflect positively on the overall corporate governance and dispute resolution track record.