Legal11 May 2026, 10:01 pm
Voltas Wins ₹529.62 Cr in Qatar Litigation
AI Summary
Voltas Ltd announced that the Court of Appeal (Qatar) ruled in its favor in a matter involving a claim and counterclaim with the Joint Venture of OHL International, Spain, and Contrack (Cyprus) Limited. The court ordered OHL&C to pay QAR 163.62 million (approximately ₹425.58 crores) to Kentz Voltas Consortium (KVC) towards outstanding dues and QAR 40 million (approximately ₹104.04 crores) as compensation. Additionally, bank guarantees worth QAR 166.72 million (approximately ₹433.64 crores) are to be returned to Voltas. The counterclaims filed by OHL&C were dismissed. Voltas has filed for execution of the order.
Key Highlights
- Court orders OHL&C to pay KVC ₹425.58 Cr towards outstanding dues.
- OHL&C to pay KVC ₹104.04 Cr as compensation.
- Bank Guarantees worth ₹433.64 Cr to be returned to Voltas.
- Counterclaims filed by OHL&C are dismissed.
- Voltas has filed application for execution of the order.