What was the outcome of Tata Power's challenge to the $490 million arbitration award in the Singapore International Commercial Court?

The Singapore International Commercial Court rejected Tata Power's challenge to the $490 million arbitration award on all counts — including its objections to the quantum of damages and its claim that the majority arbitral order breached natural justice — thereby upholding the award unchanged and imposing costs on Tata Power, the amount of which remains undecided.

Why did Kleros Capital Partners initiate arbitration against Tata Power, and what was the core allegation?

Kleros initiated arbitration because Tata Power allegedly breached their non-disclosure agreement by misusing confidential information shared under the pact and acting in bad faith by excluding Kleros from the Russian coal asset bid — despite their 2013 agreement to jointly pursue the opportunity — ultimately bidding alone through a Russian unit after the NDA expired in 2017.

Tata Power Loses $490 Million Arbitration Challenge in Singapore

Aug 26, 2026

Tata Power lost a $490 million arbitration ruling in Singapore concerning a disputed Russian coal asset bid with Kleros Capital Partners. The court upheld the damages award, finding Tata Power breached non-disclosure agreements by excluding Kleros from the mining project.

bloomberg

2026-08-26

Tata Power Loses $490 Million Arbitration Challenge in Singapore

Tata Power Loses $490 Million Arbitration Challenge in Singapore

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