Appeal rejected in Russia; arbitration order to pay ₹ 443.76 million stands

Siemens Energy India says the Chairman of the Supreme Court of Russia rejected its appeal against the Arbitration Court order of July 17, 2025.

Fri 9 Oct 2026

Amount directed to pay

₹ 443.76 million (USD 5,165,129.62)

Interest rate

8% p.a. interest from May 30, 2025

Arbitration order date

July 17, 2025

What happened

Siemens Energy India has informed the exchanges about an update in material civil proceedings before the arbitration court of St. Petersburg, Russia, which came to the Company under the demerger scheme.

• The Chairman of the Supreme Court of Russia, by a decision dated October 7, 2026, rejected the appeal shared by the Company against the order dated July 17, 2025 passed by the Arbitration Court.
• The Company received this update on October 8, 2026, at around 16:53 hrs.
• All court proceedings in the matter in Russia stand concluded and the said order of the Arbitration Court remains in effect.

What the order requires

• The Company is directed to pay an aggregate amount of ₹ 443.76 million (USD 5,165,129.62).
• Additional interest of 8% p.a. is to be paid from May 30, 2025 till the date of actual payment of the principal amount.
• The rupee figure is based on FOREX conversion numbers as on July 17, 2025.

The Company's stance

The Company says it continues to believe that the said arbitral order is unsustainable in law and contract. It is evaluating further legal remedies available to protect its rights and interests.

It adds that it will accordingly resist any potential attempt to enforce the arbitral order before the Indian courts, should the counter party pursue execution of the arbitral order in India.

Key points to note

• The appeal has been rejected, so the Arbitration Court order remains in effect in Russia.
• The Company contests the order and says it will resist enforcement in India.

The Company has requested the exchanges to take the same on record.

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