Legal Proceedings Update
Case Reference: Hindustan Copper Limited Vs M/s IVRCL-MCCDL-TCL-DM Consortium and M/s IVRCL-MCCDL-TCL-DM Consortium vs Hindustan Copper Limited
Recent Development: The Commercial Court, Jabalpur granted conditional stay from operation of arbitration award passed against Hindustan Copper Limited.
Court Order Details:
- Order Date: 16 September 2026
- Order Received Date: 21 September 2026
- Court: Commercial Court, Jabalpur
Conditions Imposed by Court:
1. Deposit of 50% of arbitration award amount in the form of Bank Guarantee
2. Remaining 50% award value and expenses in the form of bond of Asset Valuation Report to be submitted before the execution court
3. Condition that whenever directed by the Execution Court, the said amount will be deposited in the Court
4. Failure to comply will result in attachment and sale of the aforesaid properties
Next Steps: After depositing the required amounts, the court will hear the Section 34 Arbitration & Conciliation Act, 1996 application filed by Hindustan Copper Limited.
Additional Information
- The matter is sub-judice with no settlement reached
- No litigation against key management personnel, promoter, or ultimate person in control (declared Not Applicable)
- No settlement terms, compensation, or penalty paid as the matter remains pending
- Financial impact not quantified in the disclosure; contingent on court's final decision