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Siemens Energy India reported an adverse Russian court order directing it to pay approx. ₹49.59 Crore. The company intends to legally challenge any enforcement efforts.
Supreme Court of Russia rejected Siemens Energy India's appeal, upholding an arbitral award of ₹44.38 Crore. The company will resist enforcement of the order in Indian courts.
Siemens Energy India announced the Bombay High Court dismissed a petition challenging a prior arbitral award. The ruling confirms no additional financial liability for the company.