Key Quantitative Figures
The company is directed to pay an aggregate amount of ₹443.76 million (USD 5,165,129.62) based on FOREX conversion numbers as of July 17, 2025. Additional interest of 8% per annum is payable from May 30, 2025, until the date of actual payment of the principal amount.
Dates of Action
- October 7, 2026: Supreme Court of Russia decision date rejecting the company's appeal
- July 17, 2025: Original arbitration court order date
- October 8, 2026: Company received the update at approximately 16:53 hours
- October 9, 2026: Disclosure filing date
Parties Involved
- Siemens Energy India Limited (the Company/Resulting Company)
- Arbitration court of St. Petersburg, Russia (Arbitration Court)
- Supreme Court of Russia
- Siemens Limited (Demerged Company)
- National Company Law Tribunal, Mumbai Bench (referenced for Scheme sanction)
Legal Proceedings Status
All court proceedings in Russia stand concluded. The order of the Arbitration Court dated July 17, 2025, remains in effect following the rejection of the company's appeal by the Supreme Court of Russia.
Company Stance and Future Actions
The Company continues to believe that the arbitral order is unsustainable in law and contract. The Company is evaluating further legal remedies available to protect its rights and interests and will resist any potential attempt to enforce the arbitral order before Indian courts, should the counterparty pursue execution in India.
Background Reference
The matter relates to material civil proceedings before the arbitration court of St. Petersburg, Russia, which were transferred to the Company pursuant to the Scheme of Arrangement. Previous disclosure was made via letter dated July 21, 2025.