Sterlite Technologies Limited has informed the Exchange about litigation update.
STLTECH · price
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Sterlite Technologies Limited disclosed that a petition filed to set aside an arbitral award dated May 9, 2023 against Bharat Sanchar Nigam Limited (BSNL) has been dismissed by the Hon'ble High Court of Delhi. The legal matter pertained to STL's Global Services Business, which has since been demerged into STL Networks Limited effective March 31, 2025, as per a Scheme of Arrangement approved by NCLT Mumbai. STL Networks Limited has also filed the requisite disclosure on the matter.
The dismissal means the arbitral award stands. Since the contingent liability and this legal matter now pertains to STL Networks Limited (post-demerger), STL shareholders should note that STL Tech is no longer directly exposed to this litigation outcome.