SWSOLAR subsidiary files South Africa case to recover about Rs 25.5 Crore
SWSOLAR · price
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Sterling and Wilson's South African step-down subsidiary SWEPL has filed a case in the Johannesburg High Court to recover about Rs 25.50 Crore from two insurance companies. A sub-contractor went into liquidation and the insurers failed to pay on invoked advance, performance and retention insurance bonds related to the Doornhoek and Zondereinde Project. Company states expected financial implications as Nil. Notice of Motion was filed on August 25, 2026 and disclosed now after court cognizance.
Recovery action, not a liability. Company expects no financial hit; outcome could be positive if court orders insurers to pay.