Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Date: July 2, 2025
To:
BSE Limited
Corporate Relationship Department
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai - 400 001.
Scrip Code: 500400
And:
National Stock Exchange of India Limited
Exchange Plaza, C-1, Block G,
Bandra-Kurla Complex,
Bandra (East)
Mumbai - 400 051.
Symbol: TATAPOWER
Dear Sir/Madam,
In continuation of our intimation dated August 18, 2023, concerning the arbitration between The Tata Power Company Limited ('the Company') and Kleros Capital Partners Limited ('Kleros') before the arbitral tribunal under the Singapore International Arbitration Centre ('SIAC') rules of arbitration, we wish to inform you of further developments on this litigation/dispute. This disclosure is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 ('SEBI Circular'). The details are provided below:
| Sr. No. | Particulars | Details |
|---|---|---|
| a) | The details of any change in the status and / or any development in relation to such proceedings | The arbitral tribunal has issued an award, which the Company received after close of business hours on July 1, 2025, in the arbitration proceedings which were initiated by Kleros against the Company on November 30, 2020, and the oral hearings of which had concluded in February 2024. The three member arbitral tribunal, with a majority of 2:1, has partially allowed the claim that Kleros had filed in these arbitration proceedings, and has awarded Kleros, damages in the sum of (a) USD 490,320,000 with simple interest of 5.33% from November 30, 2020 till the same is paid and (b) cost of USD 8,289,020.46 with simple interest of 5.33% from July 1, 2025 till the same is paid. The Company is in the process of reviewing the contents of the award and is evaluating all options including to challenge the award. |
| b) | In the case of litigation against key management personnel or its promoter or ultimate person in control, regularly provide details of any change in the status and / or any development in relation to such proceedings | Not Applicable. |
| c) | In the event of settlement of the proceedings, details of such settlement including - terms of the settlement, compensation/penalty paid (if any) and impact of such settlement on the financial position of the listed entity. | Not Applicable. |
Yours Sincerely,
For The Tata Power Company Limited
Vispi S. Patel
Company Secretary
FCS 7021
[Digitally signed]
