Legal18 Feb 2025, 06:16 pm
BHEL Defends Arbitration Claim of USD 30.89 Million by Ducon Technologies
AI Summary
Bharat Heavy Electricals Limited (BHEL) has initiated defense against a claim of USD 30,89,179.05 and INR 3,78,64,057.80, along with interest, made by Ducon Technologies Inc., USA and Ducon Infratechnologies Ltd. (Formerly known as Ducon Technologies (I) Pvt. Ltd.), Thane, India. The claim is against BHEL-BAP Ranipet, and an arbitrator has been appointed by the Indian Council of Arbitration (ICA), New Delhi on 17.02.2025. This development is being closely monitored and managed by BHEL's Corporate Communication team.
Key Highlights
- BHEL defending an arbitration claim by Ducon Technologies
- Claim amount: USD 30.89 Million and INR 3.79 Million
- Arbitrator appointed by Indian Council of Arbitration (ICA), New Delhi
- Claim includes interest in addition to the mentioned amounts
- BHEL's Corporate Communication team actively managing the situation