GE Power India settles dispute with Navayuga Engineering Company

GE Power India has reached a settlement agreement with Navayuga Engineering Company (NECL) to resolve an ongoing arbitration related to the E&M Turnkey Contract. The dispute, ongoing since 2020, will be settled amicably. As part of the full and final settlement, NECL has agreed to pay GE Power India a sum of Rs 314.5 million. The payment will be made in quarterly instalments, with the final instalment due in 2026.