Talwandi Sabo Power Ltd (TSPL), a wholly owned Vedanta subsidiary, entered into the agreement with SEPCO to resolve disputes linked to engineering, procurement, and construction (EPC) contracts for a 3×660 MW thermal power project. Financial terms of the settlement were not disclosed.
“The settlement agreement provides for full and final resolution of all claims and counterclaims, including withdrawal of pending arbitration proceedings,” Vedanta said in an exchange filing.
SEPCO Electric Power Construction Corporation is a global contractor specializing in power generation and transmission infrastructure.Meanwhile, the Mumbai bench of the NCLT had earlier deferred its September 17 hearing on Vedanta’s demerger after the Ministry of Petroleum and Natural Gas (MoPNG) raised objections. This hearing will now be crucial in determining the way forward for the restructuring.
In March, the same bench had rejected an earlier demerger plan filed by TSPL, delaying Vedanta’s proposed split into five independent listed companies focused on aluminium, base metals, iron and steel, oil and gas, and power generation.
Vedanta’s board approved the demerger in September 2023, and the plan has already secured approvals from its secured and unsecured creditors as well as equity shareholders.
Shares of Vedanta Ltd. ended Friday’s session with gains of 3.05% at ₹450.95. The stock is up just 1.5% so far in 2025.
