Godawari Power And Ispat Ltd.

Godawari Power & Ispat  has informed that the Honble Arbitral Tribunal has dismissed a claim made by Lauren Jyoti (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 Crore 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 above information is a part of company’s filings submitted to BSE.