Tata Power loses challenge to $490 million arbitration award
Tata Power's challenge to a $490 million arbitration award was rejected by Singapore's court.
The court upheld damages awarded to Kleros Capital Partners regarding a Russian coal asset bid.
Disagreements over leadership and ownership soured the partnership in 2015.
Kleros alleged Tata Power misused confidential information and acted in bad faith.
The company must now pay Kleros' legal costs, which are yet to be determined.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
