Siemens Energy India has secured a favourable legal outcome after the Hon'ble High Court of Bombay dismissed a petition filed by Paharpur Cooling Towers Limited (PCTL) challenging an arbitral award. The court's judgment dated June 8, 2026, upheld the arbitral award and rejected all grounds raised by PCTL. The company confirmed that this ruling does not result in any additional financial liability as it has already paid the amounts due under the award.

Background of the Dispute

The dispute originated from a subcontract issued by the Energy Business of Siemens Limited (Demerged Company) to PCTL in December 2010 for the 1200 MW DGEN Mega Power Project awarded by Torrent Energy Limited. PCTL had furnished bank guarantees aggregating ₹ 347.30 million. Following delays and contractual failures, the Demerged Company encashed these guarantees in August 2014 and asserted claims amounting to ₹ 2605.40 million. An FIR filed by PCTL was quashed by the High Court of Calcutta in 2015, a decision later upheld by the Supreme Court of India.

Arbitration and Court Proceedings

Arbitration proceedings initiated in November 2014 resulted in an award issued on February 27, 2019, and rectified on April 9, 2019. The award partially upheld the Demerged Company's claims to the extent of ₹ 535.30 million. After net adjustments, the company was mandated to remit ₹ 208.40 million to PCTL with 6.00% p.a. interest. PCTL challenged this award in the High Court of Bombay in August 2019, seeking an additional entitlement of ₹ 664.90 million. The company paid the award amount with interest, issuing cheques for ₹ 246.90 million in October 2019, which were accepted by PCTL in February 2020.

Outcome and Implications

With the High Court's dismissal of PCTL's petition under Section 34 of the Arbitration and Conciliation Act, 1996, the arbitral award stands affirmed. Siemens Energy India clarified that the judgment imposes no extra financial obligation, as the payable amounts were settled previously. This resolution brings finality to the legal proceedings transferred to the company pursuant to the Scheme of Arrangement.

Siemens Energy India Limited will participate in the ICICI Securities India Investor Conference on June 9, 2026. The company's representatives are scheduled to attend the group meeting, which will be conducted in-person in Mumbai. This engagement provides a platform for the company to interact with investors and discuss its performance and strategy.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The regulatory filing confirms the details of the upcoming investor interaction, although the company noted that the schedule is subject to change.

The following table outlines the specifics of the conference:

Vishal Tembe, Company Secretary, signed the filing on behalf of Siemens Energy India Limited on June 4, 2026.