STL Networks Wins ₹5.25 Cr Payment in Smart City Litigation

STL Networks Ltd has received a favorable update regarding pending litigations. The Hon'ble High Court of Andhra Pradesh has partly allowed a writ petition filed by Sterlite Technologies Limited (now demerged into STL Networks) concerning the Kakinada Smart City Solutions contract. The court has directed the respondents to release an approved and admitted amount of ₹5.25 Crore to the petitioner within twelve weeks. The company has been granted liberty to pursue its grievance regarding a bank guarantee of ₹3.78 Crores separately through the contract's dispute resolution mechanism. This development pertains to the Global Services Business vertical demerged into STL Networks.