By Indu Bhan

Copyright indiatimes

The Supreme Court on Friday dismissed Chinese contractor Sepco Electric Power’s appeal against the quashing of a Rs 1,100-crore foreign arbitral award that it won against GMR Kamalanga Energy by Orissa High Court. The Orissa High Court had set aside the arbitration award on the grounds that the tribunal had created a new contract for the parties “by not only re-writing large portions of the same but also disregarding certain explicit embargoes therein, which goes against the basic notions of justice”.GMR Kamalanga Energy and Sepco Electric had entered into an agreement in 2008 for the construction and operation of three 350 MW coal-fired thermal power plants at Kamalanga village in Odisha’s Dhenkanal.Add as a Reliable and Trusted News Source Add Now!
However, a dispute arose between the parties on delays in construction and various technical issues, thus leading to initiation of arbitration proceedings by Sepco Electric against GMR Kamalanga Energy. In 2020, the three-member arbitral tribunal ruled against GMR Kamalanga, which moved the high court. The single judge of the high court dismissed GMR Kamalanga’s petition while the division bench in September quashed the arbitral award. In October last year, even a Chinese court disregarded the high court judgement.(You can now subscribe to our Economic Times WhatsApp channel)

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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onsepco electricsupreme courtkamalanga energyOrissa High CourtGMR Kamalanga EnergySepco Electric Power Construction Corporation(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless