Seamec Limited , a prominent player in the offshore services sector, has successfully resolved its legal dispute with Asian Energy Services Limited through mutual settlement. The Bombay High Court has disposed of the company's Section 9 petition following the settlement agreement.

Settlement Resolution

Seamec announced that the dispute pertaining to charter hire of the vessel has been mutually settled with Asian Energy Services Limited. The interim application for relief under Section 9 of the Arbitration and Conciliation Act, 1996, filed by the company before the Bombay High Court has been disposed of through a court order dated January 07, 2026.

Legal Proceedings Background

The original dispute involved Seamec's claim against Asian Energy Services Limited and Hardy Exploration & Production (India) Inc. for non-payment of overdue charter hire for work carried out by Seamec's Vessel Seamec III. The company had sought recovery of charter hire dues totaling INR 24.52 crores (inclusive of interest).

Settlement Impact

According to the company's disclosure, there is no material impact of the settlement on Seamec's financial position. The mutual agreement has allowed both parties to resolve the dispute without prolonged litigation, enabling the company to focus on its core operations.

Operational Context

This resolution comes as Seamec continues its operational activities, including the recent commencement of operations by its barge SEAMEC GLORIOUS. The settlement demonstrates the company's ability to resolve commercial disputes effectively while maintaining business relationships in the offshore services sector.

The successful resolution of this legal matter removes a potential overhang on the company's operations and may contribute to improved stakeholder confidence in Seamec's dispute resolution capabilities.

SEAMEC Limited has announced a significant operational milestone with the commencement of charter operations for its vessel SEAMEC AGASTYA. The company disclosed this development to stock exchanges as part of its regulatory obligations under SEBI listing requirements.

Charter Operations Commencement

The vessel SEAMEC AGASTYA has officially begun its charter operations with HAL Offshore Limited under an ongoing contract for Oil and Natural Gas Corporation (ONGC). The charter commenced on January 2, 2026, at 22:00 hours, marking the successful deployment of this maritime asset.

Regulatory Disclosure

SEAMEC Limited made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the information on January 3, 2026, at 06:52 hours and promptly communicated it to both BSE Limited and National Stock Exchange of India Limited.

This announcement follows previous communications from the company dated December 4, 2025, and December 8, 2025, regarding the deployment status of the same vessel. The successful commencement of charter operations represents the culmination of the deployment process.

Company Background

SEAMEC Limited operates as a member of the MMG Maya Group and maintains its registered office in Mumbai. The company holds various certifications including:

• ISO 9001:2015 certification
• ISO 14001:2015 certification
• ISO 45001:2018 certification
• IMCA (International Marine Contractors Association) contractor membership

The vessel deployment strengthens SEAMEC's operational portfolio and demonstrates the company's capability to execute maritime contracts for major oil and gas sector clients. This charter arrangement with HAL Offshore Limited for ONGC services represents continued business activity in the offshore energy sector.