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Singapore Court Rejects Tata Power’s Bid to Overturn $490M Arbitration Awards

Tata Power logoTata Power
Sig4.68Sen-6.60Env-0.25Soc0.00Gov-6.56

A Singapore court has dismissed Tata Power’s applications to overturn arbitration awards in favour of Kleros. Tata Power must immediately pay over USD 640 million, including USD 490.32 million in principal plus interest at 5.33% per year since November 2020 and Kleros’s legal costs. The tribunal found Tata Power breached the agreements and duties of good faith by misusing confidential information, circumventing Kleros, making misleading statements and concealing material facts.

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