Singapore International Commercial Court on Tuesday delivered its final judgment on DyStar’s claim against Kiri Industries Ltd .
Accordingly, the company has to pay $678,480.50 (including interest till March 3, 2020) towards damages caused to DyStar on account of solicitation of its customers in Morocco and Sri Lanka.
The SICC has also awarded costs of SG$245,877.52 payable by the company to DyStar. The company has filed an appeal against part of the judgment.
In the company’s minority oppression suit against Senda, first hearing of valuation of DyStar was concluded on March 2 and the second has been fixed for between March 31 and April 3, 2020. Shares of Kiri Industries slid 2.9 per cent at ₹361.45 on the BSE.