Splash Image

NEWS & MEDIA

News & Media

Contact

signup
 

High Court Upholds Batelco’s Claim on Siva Group for a Total Amount of USD 211.1 Million

High Court Upholds Batelco’s Claim on Siva Group for a Total Amount of USD 211.1 Million

Batelco Group (Ticker: BATELCO), the international telecommunications Group with operations across 14 countries, welcomed the ruling of The Honourable Mr.  Justice Popplewell in favour of its fully owned subsidiary company BMIC Limited (BMIC) in its litigation against Siva Limited and its Chairman Chinnakannan Sivasankaran (the defendants).

The judgment totaling USD211.1 million, made in the High Court of Justice, Queen's Bench Division in the United Kingdom, finds that BMIC has been successful in its claim that the defendants failed to adhere to a Settlement Agreement relating to a commercial venture into which both parties had entered in 2009.

The ruling confirms BMIC's claim and has ordered its full recovery from the defendants of USD211.1 million.

Back