INVC NEWS
Mumbai : GE Power India has entered into a settlement agreement with Navayug Engineering Company Limited (NECL). As part of the agreement, NECL will pay GE Power India a sum of ₹31,45,26,287. This amount will be paid in quarterly installments, with the final payment scheduled for 2026.
The dispute originated from an Electrical and Mechanical (E&M) turnkey contract, and efforts to resolve the matter have been ongoing since 2020. During legal proceedings, both parties reached a mutual agreement to settle the issue amicably. This resolution marks the conclusion of the dispute between GE Power India and NECL.
