06-Aug-2026      15:34

Jayshree Chemicals must reimburse Grasim Industries Rs 30.86 crore following a court ruling on a caustic soda plant dispute

Jayshree Chemicals Limited announced that the Commercial Court in Bhubaneswar has dismissed its petition and upheld an arbitral award dated April 12, 2024, in a dispute with Grasim Industries Limited concerning a business transfer agreement for a caustic soda plant in Odisha. The award mandates Jayshree Chemicals to reimburse Grasim Industries Rs 2.11 Cr with interest, Rs 28.70 Cr towards remediation costs, and Rs 25 lakhs for arbitration costs, totaling approximately Rs 30.86 Cr. The company intends to pursue legal options to challenge the order, which is expected to negatively impact its financial position.

News source: Capital Market - Live News