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Godawari Power & Ispat: Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order


Pursuant to Regulation 30 of the SEBI (LODR) Regulations 2015 we would like to inform you that the Honble Arbitral Tribunal has dismissed a claim made by Lauren Jyoti Private Limited (Lauren) an EPC Contractor appointed by GGEL for setting up of 50 MW Solar Thermal Power Plant in Jaisalmer District Rajasthan. GGEL is a Special Purpose Vehicle owned by Godawari Power & Ispat Limited (GPIL) with Stake of 76.12%.

Lauren had claimed payment of Rs.55.07 Crores towards invocation of performance guarantee by GGEL payment of Rs.24.60 Crores towards customs duty excise duty and related charges etc. and Rs.13.80 Cr. towards cost sharing arrangement along with interest thereon.

The Honble Arbitral Tribunal has dismissed the claim of Lauren and allowed counterclaim filed by GGEL partially to the tune of Rs.2.31 Crores and directed Lauren to pay a sum of Rs.2.31 Crores within 30 days to GGEL.

The other details as per attached letter.

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