BSNL Pays Rs. 9.06 Crore to Sterlite as Pending Dues

Sterlite Technologies Limited (STL) has informed the stock exchanges, BSE and NSE, on June 24, 2025 about a positive update regarding a legal dispute. This update is related to an arbitration case which has been now decided in the favor of STL. The company had already provided ab updated about this matter in a letter dated August 14, 2023. The disclosure has been made following Regulation 30 of the SEBI Regulations, 2015, and a SEBI circular issued on November 11, 2024.

This case included Bharat Sanchar Nigam Limited (BSNL) and was handled at the Delhi International Arbitral Centre (DIAC). The proceedings were led by Justice Manmohan Singh (Retired), he was appointed as the sole arbitrator at that time. STL had filed a statement of claim against BSNL for the non-payment of Annual Maintenance Contract (AMC) charges of Rs. 11.12 crore. This amount was regarding a project where STL supplied, installed and commissioned GPON equipment at BSNL’s network locations in North India.

The final award given by arbitrator was in favor of STL on June 23, 2025. STL has been granted Rs. 9.06 crore as pending dues according to the award. Also, the bank guarantee of Rs. 7.7 crore will be released. STL will also be given Rs. 0.96 crore as reimbursement for the cost of maintenance of the bank guarantee. Apart from this, STL will also receive 12% interest on both the Rs. 9.06 crore and Rs. 0.96 crore amounts. The interest will be calculated from August 27, 2016 to the date of award and this will continue till the actual payment will be made. Also, the company will be reimbursed for litigation expenses, arbitral fees and administrative charges paid to DIAC.

Also, it is noted that the matter is connected to STL’s Global Services Business vertical, which has been now demerged. This business has become part of STL Networks Limited from the closing of business hours on March 31, 2025. So, all the benefits from this arbitral award will transfer to STL Networks Limited. STL has requested the stock exchanges to take this update on record.