STOCKWATCH

Sterling and Wilson Solar Solutions Inc. loses USD 55.06 million claim, Conti, LLC, USA awarded USD 6.44 million

In a recent interim award, the Arbitral Tribunal dismissed the claims of Sterling and Wilson Solar Solutions Inc., a wholly owned step-down subsidiary of Sterling and Wilson Renewable Energy Ltd, amounting to USD 55.06 million (equivalent to approx. INR 485.64 Crore). On the other hand, Conti, LLC, USA was granted a claim amount of USD 6.44 million (equivalent to approx. INR 56.80 Crore) plus interest. This development comes in continuation to the disclosure made by the company on August 14, 2023, pursuant to Regulation 30 read with Para B of Part A of Schedule II of the SEBI Listing Regulations.

• Arbitral Tribunal passes interim award
• Sterling and Wilson Solar Solutions Inc.'s claims of USD 55.06 million dismissed
• Conti, LLC, USA awarded a claim amount of USD 6.44 million plus interest
• This development is in continuation to the disclosure made on August 14, 2023
• Regulation 30 read with Para B of Part A of Schedule II of the SEBI Listing Regulations followed