GE Power India enters into settlement agreement with Navayuga Engineering Company

GE Power India has entered into a settlement agreement with Navayuga Engineering Company (NECL).

An arbitration related to the E&M Turnkey Contract between the Company and NECL has been ongoing since 2020. During the course of the legal proceedings, the parties reached an agreement to amicably resolve the dispute. As part of the full and final settlement, NECL has agreed to pay a sum of Rs 31.45 crore. Under this agreement the installments are spread across on a quarterly basis and the last installment will be received in 2026.