Enforcement Orders Issued
The Singapore International Commercial Court (SICC) issued enforcement orders (SIC/EO 4/2026) authorising the Sheriff of the Singapore Courts to seize and sell the shares held by The Tata Power Company Limited in its Singapore subsidiaries Bhira Investments Pte. Ltd. and Tata Power International Pte. Ltd.
Arbitration Background
Kleros Capital Partners Limited commenced arbitration against Tata Power in November 2020 at the Singapore International Arbitration Centre (SIAC). The three‑member tribunal – presided over by Professor Lawrence Boo with members Mr. Stuart Isaacs KC and Mr. Amal K. Ganguli – found on 26 September 2023 that Tata Power breached the Agreements and its duties of good faith and confidence. On 1 July 2025 the tribunal issued a damages award of USD 490.32 million, plus simple interest at 5.33% per annum calculated from 30 November 2020. The interest accrues at approximately USD 71,600 per day, bringing the total debt to over USD 650 million. Tata Power has not paid any portion of the award.
Court Dismissal of Challenges
On 26 August 2026 the SICC dismissed all of Tata Power’s applications to set aside the arbitration awards, and the awards were recognized as judgments of the Singapore Court, making them immediately payable and globally enforceable.
Enforcement Mechanism
The enforcement order empowers the Sheriff to seize and sell the identified shares to satisfy the judgment debt owed by Tata Power.
Notes to Editors
- Arbitration commenced November 2020 at SIAC; liability award issued 26 September 2023, damages award issued 1 July 2025.
- SICC dismissal of challenges occurred 26 August 2026.
- The enforcement order authorises seizure and sale of judgment debtor’s property.
- For further details, see the previous release at https://www.prnewswire.com/news-releases/singapore-court-dismisses-all-of-tata-powers-challenges-to-usd-490-million-arbitration-awards-in-favour-of-kleros-302860502.html.