STL Networks Limited: High Court Partly Allows Litigation for Smart City Contract
The High Court of Andhra Pradesh has partly allowed a writ petition concerning a Smart City Solutions contract. STL Networks Limited is to receive ₹5.25 Crore within twelve weeks. The petitioner can also pursue a ₹3.78 Crore bank guarantee dispute separately.
The litigation involves a significant sum of ₹5.25 Crore and a separate dispute over a ₹3.78 Crore bank guarantee, which could have a material impact on the company's financials and operations.
The court partly allowed the petition, directing the release of admitted dues, which is a positive development. However, the petitioner also has liberty to pursue a separate grievance regarding a bank guarantee, indicating the matter is not fully resolved.
STL Networks Limited has received an update regarding a litigation concerning a contract for Smart City Solutions in Kakinada. The Hon'ble High Court of Andhra Pradesh at Amaravati has partly allowed a writ petition filed by Sterlite Technologies Limited against the State of Andhra Pradesh and Kakinada Smart City Corporation Limited.
The court has directed the respondents to verify and release an admitted amount of ₹5.25 Crore to the petitioner within twelve weeks from the order's receipt. The petitioner has also been granted the liberty to separately raise its grievance regarding the encashment of a bank guarantee amounting to ₹3.78 Crore by invoking the dispute resolution clause under the contract.
This matter pertains to the Global Services Business vertical of Sterlite Technologies Limited, which was demerged into STL Networks Limited effective March 31, 2025.
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