ENRINSiemens Energy India Limited
Siemens Energy India says Russia’s Supreme Court chairman rejected its appeal in a St. Petersburg arbitration case
- Legal
- Energy
Siemens Energy India Limited has told the exchanges on 9 Oct 2026 that on 8 Oct 2026 at about 4:53 PM it received an update that the Chairman of the Supreme Court of Russia, by a decision dated 7 Oct 2026, rejected the company’s appeal against an order of 17 Jul 2025 passed by the arbitration court of St. Petersburg. The proceedings were transferred to the company under the scheme that demerged the energy business of Siemens Limited.
The company says all court proceedings in Russia have now concluded and the arbitration court’s order remains in effect. Under that order the company is directed to pay an aggregate of 443.76 million (USD 5,165,129.62, based on exchange rates of 17 Jul 2025), with additional interest at 8% a year from 30 May 2025 until the principal is paid. The company continues to believe that the arbitral order is unsustainable in law.
Inference
The Russian appeal route is now closed, so the order stands as the final ruling in Russia. The filing shows the interest running at 8% a year from 30 May 2025, so the sum payable grows with time.
The part of the filing reviewed here does not say how the company will respond or whether any amount has been provided for in its accounts.
Reference: Original filing (PDF)
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