In 2013 and 2014, Kleros and Tata Power entered into two non-disclosure agreements to explore the joint development of the Krutogorovo coal deposit in Russia’s eastern Kamchatka region. (File Photo)
\n\nTata Power is facing a major legal and financial challenge after the Singapore International Commercial Court (SICC) authorised the seizure and sale of shares held by the Indian energy company in two of its subsidiaries. The development follows a prolonged international commercial dispute with investment firm Kleros Capital Partners Limited over a coal mining opportunity in Russia.
\n\nKleros announced on Friday that the Singapore court had issued enforcement orders covering Tata Power's shareholdings in Bhira Investments Pte Ltd and Tata Power International Pte Ltd. The move marks another major development in the dispute, with the outstanding financial liability reportedly exceeding $650 million.
\n\nThe enforcement action comes after the SICC rejected Tata Power's attempts to overturn arbitration awards granted in favour of Kleros. The court dismissed all such applications on August 26, 2026, and subsequently recognised the arbitration awards as judgments of the Singapore Court.
\n\nAlthough Tata Power has challenged the court's decision through an appeal, Kleros maintains that the appeal does not automatically suspend enforcement proceedings. According to the investment…
Original source: https://www.timesnownews.com/business-economy
