Tata Power Company Limited
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Date: July 2, 2025
To: BSE Limited, National Stock Exchange of India Limited
Subject: Disclosure regarding arbitration proceedings with Kleros Capital Partners Limited
In continuation of the intimation dated August 18, 2023, concerning the arbitration between 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, this disclosure is made 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.
The details of the developments 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. The arbitration proceedings were initiated by Kleros against the Company on November 30, 2020, and the oral hearings concluded in February 2024. The three-member arbitral tribunal, with a majority of 2:1, has partially allowed Kleros' claim. Kleros has been awarded damages in the sum of (a) USD 490,320,000 with simple interest of 5.33% from November 30, 2020, until paid, and (b) costs of USD 8,289,020.46 with simple interest of 5.33% from July 1, 2025, until paid. The Company is currently reviewing the award's contents and evaluating all options, including a potential challenge to 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
[Digital Signature] Vispi S. Patel Company Secretary FCS 7021
Tata Power Company Limited
Registered Office: Bombay House, 24 Homi Mody Street, Mumbai - 400 001.
Tel: +91 22 6665 8282 | Fax: +91 22 6665 8801
Website: www.tatapower.com | Email: tatapower@tatapower.com
CIN: L28920MH1919PLC000567
Printed on 100% Recycled Paper
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