Sterling and Wilson Renewable Energy Resolves Arbitration with Conti, LLC
Sterling and Wilson Renewable Energy Limited announced the conclusion of an arbitration with Conti, LLC, USA. The resolution follows payments made by Sterling and Wilson Solar Solutions Inc., a wholly owned step-down subsidiary, to Conti, LLC, as determined by the Arbitration Tribunal.Details regarding the settlement, including terms and compensation, were disclosed in an update related to the ongoing proceedings. The resolution of the arbitration is not expected to have a material impact on the financial position of Sterling and Wilson Renewable Energy Limited.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | The details of any change in the status and / or any development in relation to such proceedings | Sterling and Wilson Solar Solutions Inc., (wholly owned step-down subsidiary of the Company) made all payments to Conti, LLC, USA as awarded by the Arbitration Tribunal. |
| 3 | In the event of settlement of the proceedings, details of such settlement including - terms of the settlement, compensation/penalty paid (if any) and impact of such settlement on the financial position of the listed entity | Refer to the details provided in point No 1 |
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