Voltas Limited has received a favourable judgement from the Court of Appeal (Qatar) regarding a long-standing legal dispute involving OHL International, Spain, and Contrack (Cyprus) Limited. The court ruled in favour of the Kentz Voltas Consortium (KVC), dismissing all counterclaims filed by the opposing parties. The decision requires the opposing joint venture to settle significant outstanding payments and return substantial bank guarantees to the company.
Favourable Court Judgement
On May 4, 2026, the Court of Appeal (Qatar) pronounced a decisive judgement in the legal matter involving Voltas Limited and the joint venture of OHL International (Spain) and Contrack (Cyprus) Limited. The company received the English translation of this order on May 9, 2026, and has since filed an application for the execution of the court’s directives.
Financial Directives and Recoveries
The court has ruled on several key financial aspects of the dispute in favour of the Kentz Voltas Consortium (KVC):
- Outstanding Payments: The opposing parties are required to pay QAR 163.62 million (approximately ₹425.58 crore) to the consortium for work performed under the subcontract.
- Compensation: An additional QAR 40 million (approximately ₹104.04 crore) has been awarded as compensation to KVC.
- Bank Guarantees: The court has ordered the return of advance and performance bank guarantees valued at QAR 166.72 million (approximately ₹433.64 crore) to Voltas within 10 days of the judgement.
Impact and Outlook
Following the dismissal of all counterclaims filed by OHL and Contrack, the company has confirmed there is no negative financial implication or outstanding claim against Voltas resulting from this litigation. The company is now focused on the execution process of the court order and will continue to monitor the situation for further material developments.
Source: BSE
