Olectra Greentech Loses Arbitration Case Against M.L.R. Motors, Ordered to Pay Rs 5 Lakh in Costs

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. Award Component: Details Claim Amount: Rs 10.00 crore Claim Status: Disallowed Nature of Claim: Recovery of capital advance converted to equity Cost Reimbursement: Rs 5,00,000 Beneficiary: M.L.R. Motors Limited 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. Parameter: Details Position: Associate Vice President - Human Resources Effective Date: March 03, 2026 Notice Period: Two months (January 03 to March 03, 2026) Reason: To explore better career opportunities 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. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. 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