Olectra Greentech Limited has received an unfavorable arbitral award in its long-standing dispute with M.L.R. Motors Limited, resulting in the loss of a Rs 10.00 crore claim and additional cost obligations. The company disclosed this development to stock exchanges on March 7, 2026, following receipt of the award on March 6, 2026.

Arbitral Award Details

The Arbitral Tribunal, which was constituted pursuant to an order from the Hon'ble High Court of Telangana dated November 22, 2024, passed its award on March 2, 2026. The tribunal's decision was comprehensive and unfavorable to Olectra Greentech on multiple fronts.

The award specifically disallowed Olectra Greentech's claim for recovery of the capital advance of Rs 10.00 crore that had been made to M.L.R. Motors Limited. This advance was subsequently converted into equity shares of M.L.R. Motors Limited, adding complexity to the dispute.

Financial Implications

Beyond the loss of the primary claim, the Tribunal directed Olectra Greentech to reimburse Rs 5,00,000 towards the cost of arbitration and legal expenses incurred by M.L.R. Motors Limited. This additional financial burden compounds the adverse impact of the award on the company's financial position.

Company's Response and Next Steps

Olectra Greentech has indicated that it is currently reviewing the detailed order to understand the tribunal's reasoning and assess available options. The company has stated that it will consider further actions, including challenging the award before appropriate courts. This suggests that the legal dispute may continue through the appellate process.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015, with the company providing detailed information as required under the relevant regulatory framework. This follows an earlier disclosure made on December 18, 2023, indicating the ongoing nature of this dispute and the company's commitment to keeping stakeholders informed of material developments.

Olectra Greentech Limited has announced the resignation of a senior management personnel, marking a key leadership change in its human resources department. The company has informed both BSE and NSE about this development in compliance with regulatory requirements.

Senior Management Departure

Mr. Sanjay Rastogi, Associate Vice President - Human Resources, has resigned from his position effective close of business hours on March 03, 2026. The resignation was formally communicated to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The company has fulfilled all disclosure requirements as mandated by SEBI regulations. The intimation includes detailed information about the cessation date and circumstances surrounding the resignation. P. Hanuman Prasad, Vice President - Company Secretary & Legal, signed the regulatory filing on behalf of the company.

Notice Period and Transition

According to the resignation letter dated January 03, 2026, Mr. Rastogi provided a two-month notice period in accordance with his employment terms. The notice period commenced from January 03, 2026, and concluded on March 03, 2026. In his resignation letter, he expressed gratitude for the opportunity to work with the organization and acknowledged the support received from colleagues during his tenure.

Corporate Governance

The resignation follows proper corporate governance protocols, with all necessary documentation submitted to regulatory authorities. The company has attached the complete resignation letter as part of its disclosure to ensure transparency with stakeholders and maintain compliance with listing regulations.