Bharat Heavy Electricals Limited (BHEL) is currently defending a significant claim worth USD 30,89,179.05 and INR 3,78,64,057.80, plus interest, made by Ducon Technologies Inc. (USA) and Ducon Infratechnologies Ltd. (formerly Ducon Technologies (I) Pvt. Ltd., Thane, India).
The arbitration, initiated against BHEL, involves a dispute related to the BAP Ranipet unit. On February 17, 2025, the Indian Council of Arbitration (ICA), New Delhi, appointed an arbitrator to resolve the matter. BHEL is actively working to address the claim and ensure a fair resolution.
In the excahgne filings, the copmany shared, “BHEL-BAP Ranipet hereby intimate that a claim of USD: 30,89,179.05 & Rs. 3,78,64,057.80 respectively plus interest has been made by M/s DUCON TECHNOLOGIES INC., USA and M/s DUCON INFRATECHNOLOGIES LTD, (Formerly known as Ducon Technologies (I) Pvt. Ltd.), Thane, India, against BAP-Ranipet and an arbitrator has been appointed on 17.02.2025 by Indian Council of Arbitration (ICA), New Delhi and the same is being defended by BHEL.”
