SEPC Ltd Settles Inter-Se Claims with Hindustan Copper Limited for Rs. 30.44 Crore

SEPC Ltd has executed a Settlement Deed with Hindustan Copper Limited, a client, for the full and final settlement of inter-se claims and counterclaims. This settlement is in respect of the arbitration proceedings in Case No. AP No.163 of 2023. As per the terms of the settlement, SEPC will receive a total amount of Rs. 30,44,80,495/- (Rupees Thirty Crore Forty-Four Lakh Eighty Thousand Four Hundred and Ninety-Five only). The existing arbitration proceedings will stand closed, and a supplementary work order valued at Rs. 72,54,57,640/- (Rupees Seventy-Two Crore Fifty-Four Lakh Fifty-Seven Thousand Six Hundred and Forty only) will be issued for the existing order on vertical shaft sinking work.