Sembcorp files case against Siemens Gamesa over unsettled arbitration
Sembcorp's India unit has filed a suit in a Bengaluru court to stop Siemens Gamesa from selling country business before settling an arbitration arising from alleged default in executing a contract.
In its filing before the Principal City Civil and Sessions Judge at Bengaluru, Sembcorp sought injunction over sale of the India assets of Siemens Gamesa, including its shareholding.
The court issued notices to Siemens Gamesa, court documents showed.
Sembcorp's India arm has filed a suit against Siemens Gamesa and its parent entity, Siemens Energy AG.
Siemens Energy AG has reportedly put its India subsidiary Siemens Gamesa Renewable Energy's entire India manufacturing, maintenance and services business in renewables up for sale. This is effectively seen as a country exit for Siemens Gamesa.
Considering these material events and information, which lead to reasonable apprehension regarding the continued operation of the Siemens Gamesa as a going concern, Sembcorp filed an injunction petit