Ion Exchange Reports Favorable Arbitration Outcome: ₹17.48 Crore Award and Interest Dismissed as Time-Barred

Ion Exchange (India) Ltd has informed exchanges of a significant update regarding its pending litigation with ACETP. The dispute, related to alleged non-performance of an effluent treatment plant and associated damages, had earlier resulted in an arbitral award of ₹17.48 crore plus interest against the company.

The sole arbitrator, Mr. S. Parthasarathy, Senior Advocate, has now ruled that both the claim and counter-claim are barred by limitation, leading to the dismissal of the award. This outcome removes a contingent liability from Ion Exchange’s books, strengthening its financial position and reducing litigation risk.

Key Highlights

• Litigation Background: Case filed by ACETP over alleged non-performance of effluent treatment plant.
• Arbitral Award: ₹17.48 crore plus interest previously passed against Ion Exchange.
• Latest Development: Sole arbitrator dismissed both claim and counter-claim as time-barred.
• Impact: Arbitral award stands dismissed, easing contingent liability disclosures.

Financial Position: Positive outcome reduces risk exposure for the company.

Sources: Company Exchange Filing (Ion Exchange India Ltd), BSE, NSE