HFIL Files ₹72 Crore SIAC Arbitration Against Simplot

Himalaya Food International Ltd files a Notice of Arbitration with SIAC seeking ₹72 crore in damages from Simplot for non-return of machinery.
The arbitration is a follow-up to a 2020 SIAC Final Award and cites production and profit losses for FY2021 and FY2022.
The company has budgeted SGD 250,000 for fast-track proceedings and is exploring litigation funding options.
The Board has authorized Mr. Sanjiv Kakkar to pursue a resolution, including a potential global settlement, within the current financial year.