Tata Power shares fall 4% as Singapore court upholds $490 mn award

Tata Power shares fell over 4 per cent on Thursday after the Singapore International Commercial Court dismissed the company’s challenge to arbitral awards linked to a dispute over a coal asset in Russia.

At 12.18 pm, Tata Power shares traded at ₹349.80, near the day’s low of ₹348.10, compared with Wednesday’s close of ₹364.

Tata Power shares decline

At the time of writing, the total market capitalisation stood at ₹1.11 lakh crore.

The company had challenged arbitral awards involving a $490 million award related to allegations that it breached an agreement with an investor to bid for a coal asset in Russia and denied the investor the opportunity to benefit.

Singapore court order

Tata Power said in a stock exchange filing that the Singapore International Commercial Court issued its judgment on August 26, 2026, in connection with the company’s challenge to arbitral awards dated July 1, 2025 and August 27, 2025.

The arbitration proceedings were initiated by Kleros against Tata Power on November 30, 2020, the company said.

Tata Power had also challenged the Singapore International Arbitration Centre (SIAC) Court’s June 5, 2025 decision rejecting the company’s challenge to the appointment of two arbitrators who issued the majority arbitral award.

According to Tata Power, the Singapore International Commercial Court dismissed the company’s challenge, holding that there was no breach of natural justice or the fair hearing rule by the majority in arriving at the final award.

Appeal

Tata Power said it has 28 days from August 26, 2026 to appeal the Singapore International Commercial Court’s decision to the Singapore Court of Appeal.

“The company will be filing an appeal against the decision of the Singapore International Commercial Court within this time period,” the company said in the stock exchange filing.

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Published on August 27, 2026