Legal26 Jun 2026, 07:50 pm
Gujarat Themis Biosyn Initiates ₹98.8 Cr Arbitration Against Optimus Drugs
AI Summary
Gujarat Themis Biosyn Ltd (GTBL) has initiated an arbitration proceeding against Optimus Drugs Private Limited (Optimus Drugs) for allegedly terminating a supply agreement contrary to agreed terms. GTBL is claiming ₹75,00,00,000 for Break Fees due to breach of 'Take-or-Pay' obligations, ₹23,80,849 towards interest on delayed payments, and ₹15,00,00,000 for damages and financial losses, totaling approximately ₹98.8 crore. The company does not anticipate any negative financial implications from penalties as it is seeking recovery and damages.
Key Highlights
- GTBL initiates arbitration against Optimus Drugs for supply agreement breach.
- Claims total of ₹98.8 crore including break fees and damages.
- Arbitration seeks recovery and compensation, not penalty.
- Dispute arises from alleged termination of supply agreement.
Price Impact
More from GUJTHEM