Sterlite Technologies Limited (STL) has announced that the Hon’ble High Court of Delhi has dismissed a petition filed to set aside an arbitral award dated May 9, 2023, regarding Bharat Sanchar Nigam Limited. Following the demerger of the company’s Global Services Business into STL Networks Limited on March 31, 2025, any associated contingent liabilities now reside with the demerged entity, which has already notified the stock exchanges of this development.
Legal Outcome Regarding Arbitration
Sterlite Technologies Limited (STL) provided an update on a long-standing legal matter involving a petition to set aside an arbitral award originally dated May 9, 2023. The Hon’ble High Court of Delhi has ruled to dismiss the petition. This litigation originated from the Global Services Business division, which was previously a core operational segment of the company.
Strategic Demerger and Liability Transfer
As per the Scheme of Arrangement approved by the Hon’ble National Company Law Tribunal on February 14, 2025, the Global Services Business was successfully demerged into STL Networks Limited. This transition became effective at the close of business on March 31, 2025.
Due to this corporate restructuring, all contingent liabilities linked to the Global Services Business are now the sole responsibility of STL Networks Limited. The demerged entity has acknowledged this obligation and submitted the necessary disclosures to the relevant stock exchanges as of May 12, 2026, confirming that the current legal proceedings fall under their purview.
Source: BSE
