Siemens Energy India faces Rs 443.76 crore liability after Russian court ruling, to appeal decision
Siemens Energy India Limited has announced that it received an adverse ruling from the arbitration court of St. Petersburg, Russia, concerning a disputed supply contract with Neftegaz & Energetika LLC (formerly Siemens Energy LLC Russia). The court ruling was communicated to the company on July 21, 2025.
According to the company's filing with stock exchanges under SEBI Listing Regulations, the dispute traces back to a contract awarded in June 2020, under which Siemens Energy India (then part of Siemens Limited) received an advance payment of ₹349.96 million from SE Russia. The contract was later terminated in October 2022 after the company invoked force majeure in September 2022.
On March 12, 2025, the bankruptcy manager of SE Russia initiated litigation before the arbitration court of St. Petersburg, seeking ₹492.10 million from Siemens Energy India.
In its ruling dated July 17, 2025, the Russian court declared the supply contract of July 16, 2021, and the advance payments made under it as invalid. The court ordered Siemens Energy India to pay ₹443.76 million (approximately USD 5.16 million) plus additional interest at 8% per annum from May 30, 2025, until the date of actual payment.
The company, however, stated in its communication that it believes the ruling is 'unsustainable in law and contract' and intends to appeal the decision.
This litigation stems from the demerger of the Energy Business from Siemens Limited to Siemens Energy India, sanctioned by the National Company Law Tribunal earlier this year, during which the disputed proceedings were transferred to Siemens Energy India.
The company emphasized its commitment to defending its position vigorously and reassured stakeholders that it is taking all necessary legal steps.
Disclaimer: The above information is based on the company's filing and is intended for informational purposes only. It should not be construed as legal or financial advice. Please consult appropriate professionals before making investment or business decisions.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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