In May 2024, an out-of-court settlement had been reached between the
Company and SDB on the basis constructive dialogue, discussion and
negotiations, effectively resolving all the disputes between the parties. Under
the Settlement, SDB has agreed to pay a total amount of INR 170 crore over
and above INR 1,790 crores already certified by them. With this settlement,
the total approved project value amounts to INR 1,960 crore excluding GST.
Till now, the Company had recorded revenue of INR 1,896 crore in the
accounts and now the remaining revenue of Rs.64 crore will be recorded
upon the receipt of the certificate from SDB. We expect to receive the
payments in tranches before the end of H1FY26.
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