Sarda Energy & Minerals has settled out of court, an arbitration case initiated by it against an overseas supplier of plant and machinery for a settlement amount of 8.50 million euro, to be received after compliance of certain formalities.
Sarda Energy & Minerals is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.