Sterling and Wilson Renewable Energy Ltd (NSE: SWSOLAR) informed the exchanges on Monday that an Arbitral Tribunal has dismissed claims worth USD 55.06 million (approx. ₹485.64 crore) filed by its wholly owned step-down subsidiary, Sterling and Wilson Solar Solutions Inc., against Conti LLC, USA.
Instead, the Tribunal awarded Conti LLC a claim of USD 6.44 million (approx. ₹56.8 crore) along with interest. The company clarified that this update is pursuant to its earlier disclosure dated August 14, 2023, and forms part of its material litigation updates under SEBI regulations.
The company did not disclose the financial impact beyond the liability, but emphasized that no settlement terms were agreed upon
