Court Ruling on Lawsuit, etc. (Voluntary Disclosure : Charging Less Than Certain Amount)
January 18, 2022 at 04:25 am
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Court Ruling on Lawsuit, etc. (Voluntary Disclosure : Charging Less Than Certain Amount)
1. Title of Lawsuit
Arbitral award for a claim for damages
Docket Number
-
2. Plaintiff (Claimant)
ONGC Petro Additions Limited
3. Details of Court Decision
- The respondent is to pay INR 500,000 (KRW 8,005,000) to the claimant.
- All other claims by the claimant have been dismissed.
4. Settlement Amount decided by Court
Settlement Amount (KRW)
8,005,000
Equity Capital(KRW)
3,853,751,240,728
Ratio to Equity Capital(%)
0.00
If Classified as a Large-scale Corporation
Yes
5. Rationale for Court Decision
Recognition given to only the nominal damages of the claimant
6. Competent Court
Ad hoc arbitration according to the Singapore Arbitration Act (Place of arbitration: Singapore)
7. Actions to be taken
Payment planned for the amount of the ruling
8. Date of Court Decision
2021-12-20
9. Date Confirmed
2022-01-17
10. Other references useful for making investment decisions
- The above details concern the outcome of the disclosure regarding the claim by prior to the spin-off of the company. Please refer to the related disclosures for the details prior to the spin-off.
[Related disclosures]
DL (formerly Daelim Industrial Co., Ltd.) / 000210
2012.12.21 Filing or Application of Lawsuit, etc. (Claim of over Certain Amount)
- The Settlement Amount above is the amount obtained by applying the exchange rate (INR 1 = KRW 16.01) on the date of receipt of the verdict statement to the arbitral award amount (INR 500,000).
※ The claim amount at the time of filing for the arbitration was USD 13,803,800 and INR 7,560,100,000 (KRW 162,919,357,920, based on the exchange rate at the time)
※ Through the Company's appropriate response, only nominal damages at less than 0.005% of the claim amount were recognized, securing the respondent an outcome that is equivalent to winning the case.
※ This arbitral award is based on a single trial, and is final in and of itself.
- The Equity Capital above is based on the consolidated financial statements immediately after the date of the Company's incorporation (2021.01.04) following the spin-off.
- The Date Confirmed above is the date on which the Company received the verdict statement.
※Title and date of other disclosure related to this one
-
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Disclaimer
DL E&C Co. Ltd. published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 09:24:06 UTC.
DL E&C Co Ltd is a Korea-based company principally engaged in the construction business. The Company mainly engages in the building construction, including construction of residential and non-residential buildings, among others; civil works such as roads, bridges, ports, railways and others; plant construction such as petrochemical plant, power plant and others.