Bombay HC Upholds Arbitral Award Against PCTL

Siemens Energy India Ltd announced that the Bombay High Court has dismissed the petition filed by Paharpur Cooling Towers Limited (PCTL) challenging an arbitral award. The court upheld the original award, rejecting all grounds raised by PCTL. The company had already paid the amounts due under the award, totaling ₹246.90 million, in October 2019, which were accepted by PCTL in February 2020. This judgment confirms the company's position and does not impose any new financial liabilities.