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SWSOLAR's ICC arbitration with TSGF SPA extended until March 31, 2027. A conditional settlement was executed with no financial impact until implementation.
Sterling and Wilson Renewable Energy settled a tax dispute with the Kenya Revenue Authority, reducing the demand to ₹2.66 Crore from an earlier ₹26.50 Crore.
Sterling and Wilson's subsidiary filed a legal motion in South Africa to recover Rs. 25.50 Crore from insurance providers after a sub-contractor went into liquidation.
The GST authority in Jaipur issued an order imposing a tax demand and penalty of approximately ₹13.86 Crore each on the Company.
CGST Jaipur demanded ₹27.72 Cr tax and penalty from Sterling and Wilson for Nov 2020 to Nov 2021. Company states demand is largely covered by promoter indemnity.
Sterling and Wilson's subsidiary, SWSS, has initiated a new arbitration against OEG Inc. regarding undetermined counterclaims. A three-member arbitration panel has been constituted.
Sterling and Wilson's subsidiary initiated arbitration against Shell Australia for claims totaling approximately ₹284.81 Crore. The dispute concerns EPC and O&M contracts for a solar farm.
Sterling and Wilson received a revised CGST demand of ₹2.97 crore. The company is currently evaluating the order to determine further action.
Sterling and Wilson Renewable Energy Limited's US subsidiary settled legal proceedings against Fidelity and Deposit Company of Maryland and Zurich American Insurance Company. The US District Court dismissed the case following a mutual release of claims. The settlement has no material financial impact, and the matter stands closed with no further liabilities.
Sterling and Wilson Renewable Energy's US subsidiary has concluded its arbitration with Conti, LLC, USA. The company confirmed that all payments awarded by the Arbitration Tribunal have been made, effectively ending the litigation. This settlement resolves a material legal dispute for the company.