Legal Matter Update
The Hon'ble High Court of Andhra Pradesh at Amaravati has partly allowed the writ petition filed by Sterlite Technologies Limited against:
- State of Andhra Pradesh
- Kakinada Smart City Corporation Limited
- Other parties
The petition concerned a contract for development and implementation of Smart City Solutions in Kakinada, which pertained to the company's former Global Services Business.
Corporate Restructuring Context
Pursuant to a Scheme of Arrangement approved by the Hon'ble National Company Law Tribunal, Mumbai, vide order dated February 14, 2025, STL's Global Services Business has been demerged into STL Networks Limited. The demerger became effective from the close of business hours on March 31, 2025.
Financial Impact Allocation
As a result of the demerger, any contingent gain or benefit arising from this court ruling pertains to STL Networks Limited, not Sterlite Technologies Limited.
Additional Disclosure
STL Networks Limited has filed a separate requisite disclosure regarding this matter pursuant to SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2 / I / 3762 / 2026 dated January 30, 2026. This disclosure was made on both BSE Limited and National Stock Exchange of India Limited on August 20, 2026.