Olectra Greentech announced that the Arbitral Tribunal has passed an award on March 2, 2026, concerning a dispute with M.L.R. Motors Limited. The Tribunal disallowed Olectra’s claim for the recovery of a ₹10.00 Crore capital advance, which had been converted into equity shares of M.L.R. Motors. Furthermore, the company must reimburse the Respondent ₹5,00,000 for arbitration and legal costs. The company is currently reviewing the order and considering an appeal.
Status Update on M.L.R. Motors Dispute
Olectra Greentech Limited has informed stock exchanges regarding the final award passed by the Arbitral Tribunal constituted by the Hon’ble High Court of Telangana. The award was passed on March 2, 2026, and received by the company on March 6, 2026.
Key Tribunal Directives
The central finding of the award was the disallowance of Olectra’s claim seeking recovery of a capital advance amounting to Rs. 10.00 Crores. This advance had previously been converted into equity shares of M.L.R. Motors Limited (the “Respondent”).
In addition to disallowing the principal claim, the Tribunal directed Olectra Greentech to provide reimbursement to the Respondent totaling Rs. 5,00,000. This amount covers the costs of arbitration and legal expenses incurred by M.L.R. Motors.
Management Review and Next Steps
The management of Olectra Greentech is currently engaged in reviewing the detailed order. The company confirms its intent to consider all appropriate further actions, which may include challenging the award before the appropriate higher courts, as deemed fit by its legal counsel.
Litigation Details Summary
This dispute pertains to litigation initiated against M.L.R. Motors Limited. There are no applicable details regarding settlements or litigation involving key management personnel or promoters at this stage. The document confirms that the status of this proceeding has now fundamentally changed due to the issuance of the final award.
Source: BSE
