Indian Metals Ferro Alloys settles long pending arbitration matter

2 Nov 2022 , 01:32 AM

Indian Metals Ferro Alloys has arrived at an out of court settlement in a long pending arbitration matter and related legal proceedings pertaining to a conversion contract where it was to produce ferro chrome for a third party The Settlement Agreement has been signed and the Company has received an amount of Rs 4999 crore including GST Pursuant to the agreement a Joint Settlement Petition has also been signed and legal proceedings by both sides shall be withdrawn in due course when the matter is heard