The dispute stems from Tata Power's proposed involvement in the Krutogorovo coal project in Russia. Kleros initiated arbitration proceedings against Tata Power in November 2020, alleging breaches of confidentiality and other contractual obligations.
In September 2023, the arbitral tribunal found Tata Power liable for breaches of the relevant agreements. On 1 July 2025, the tribunal, by a 2:1 majority, awarded Kleros $490.32 million in damages, along with interest and costs.
Tata Power subsequently challenged the arbitral awards before the Singapore courts. It also challenged the Singapore International Arbitration Centre Court's decision concerning the appointment of two arbitrators who issued the majority award.
The Singapore International Commercial Court has now dismissed Tata Power's challenge to the awards.
Tata Power has 28 days from 26 August 2026 to appeal the judgment before the Singapore Court of Appeal. The company said it will file an appeal within the prescribed period.
The latest judgment does not represent a new award. It relates to Tata Power's challenge against the arbitral awards issued in 2025. The company continues to contest the matter through the appellate process.
Tata Power Company, a vertically integrated power company and part of the Tata Group, has built a diversified portfolio across the entire power value chain, with its total operational and under-construction capacity surpassing 26 GW.
The company's consolidated net profit rose 10.95% to Rs 1,175.93 crore on a 5.63% increase in revenue to Rs 19,051.26 crore in Q1 FY27 over Q1 FY26.
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