Gujarat NRE Coke today said the Calcutta High Court “did not admit” Siemens’ “wrongfully” filed winding up petition against the firm in a contract related dispute.
In a BSE filing, Gujarat NRE Coke said: “The High Court at Calcutta did not admit the petition filed by Siemens and has invited counter affidavit by the company.”
It added: “Siemens has wrongfully filed a winding up petition against the company before the High Court at Calcutta on account of a dispute...”
The issue relates to a dispute arising out of a contract entered between Siemens and Gujarat NRE Coke in 2008 for design, engineering, manufacture and supplies.
Under the contract, Siemens had to deliver various structures, equipment and parts at the site for installation of 15 MW power plants each for Phase 1 and Phase 2 at Dharwad and 15 MW power plant at Bhachau adjacent to the coke plants of the company, it added.
“However, various material facts were suppressed by Siemens in the said winding up application, which was brought to the notice of the High Court at Calcutta by the company,” Gujarat NRE Coke said in the filing.
Gujarat NRE Coke did not envisage any material impact on its operations or performance due to the proceedings, it said.
Shares of Gujarat NRE were trading at Rs 3.05, down 3.17 per cent on the NSE. Siemens scrip was up 2.87 per cent at Rs 1,340 a share.