New Delhi, July 3 -- Tata Power share price fell by more than 2% during Thursday's trading session after the company announced that an arbitral tribunal under the Singapore International Arbitration Centre (SIAC) has ordered it to pay $490.32 million in damages to Kleros Capital Partners.
The partial ruling, issued by a majority of 2:1, additionally stipulates that simple interest at a rate of 5.33% per year will be applied from November 30, 2020, until the payment is made. Furthermore, Tata Power is required to cover $8.29 million in legal expenses, with the same interest rate starting from July 1, 2025.
(more to come)
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