Samvardhana Motherson Subsidiary Settles Subcontracting Disputes in South Korea
Samvardhana Motherson International Limited announced the settlement of dues and claims arising from subcontracting transactions involving its indirect wholly owned subsidiary, SMR Hyosang Automotive Ltd., in South Korea.The settlement details were established through a mediation agreement entered into by SMR Hyosang Automotive Ltd., South Korea, with its sub-contractor. This process was overseen by the Subcontracting Dispute Mediation Committee (SDMC) of the Korea Fair Trade Mediation Agency.
According to the details provided, a Mediation Agreement was formally entered into on April 06, 2026. The settlement pertains to claims emanating from subcontracting transactions between the parties.
The agreed financial terms stipulate that SMR Hyosang shall pay an amount of KRW 360,000,000 (South Korean Won Three Hundred Sixty Million only). This sum is equivalent to INR 22,179,600 1 (Indian Rupees Twenty Two Million One Hundred Seventy Nine Thousand Six Hundred only), excluding Value Added Tax, and is payable by April 27, 2026.
The following table summarizes the key aspects of the mediation and settlement:
| Particulars | Details |
|---|---|
| Authority | Subcontracting Dispute Mediation Committee (' SDMC ') of Korea Fair Trade Mediation Agency |
| Agreement Date | April 06, 2026 |
| Settlement Amount | KRW 360,000,000 (equivalent to INR 22,179,600 1) |
| Payment Deadline | April 27, 2026 |
The report indicated that the settlement was reached following the successful mediation conducted by the SDMC, making the details of the violation or contravention not applicable. Furthermore, the announcement stated there is no material impact on the financial or operational activities of SMR Hyosang and/or the Company.
MOTHERSON Stock Price Movement
Today, Samvardhana Motherson International Limited shares edged higher to close at ₹108.44, gaining 0.30% in the session. The stock settled with significant activity, recording a traded volume of 12.42 million shares.Source:
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