National Aluminium Company Ltd has received $8.05 million or around Rs 54 crore in an out-of-court settlement with a US firm. This ends a long-drawn litigation with Peak Chemical Corporation Inc of the US. The case related to a 1994 supply contract for a specific variety of caustic soda used in the alumina refinery.
The Delhi High Court in February 2012 had dismissed the appeal of Peak Chemical Corporation against the award of the arbitrator in its dispute with public sector Nalco.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.