Blue Star says WJ Towell raises claim in arbitration to Rs 461.74 crore

In April this year, WJ Towell & Co LLC (WJT) had filed arbitration proceedings against Blue Star with the ICC, claiming OMR 103,18,000 (approximately Rs 223.6 crore) plus an interest of 7 percent on the total claim amount

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26 Aug, 2025 12:21

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Blue Star Ltd said Oman's WJ Towell & Co LLC has increased its claim to Rs 461.74 crore from the air-conditioner maker in their ongoing arbitration proceedings at International Chamber of Commerce.

In April this year, WJ Towell & Co LLC (WJT) had filed arbitration proceedings against Blue Star with the ICC, claiming OMR 103,18,000 (approximately Rs 223.6 crore) plus an interest of 7 percent on the total claim amount, Blue Star said in a regulatory filing on October 2.

"In the statement of claim received by the company on October 1, 2024, the claim amount has been revised to OMR 2,11,80,748 (approximately Rs 461.74 crore) plus interest of 7 percent on the total claim amount," it added.

"The company reiterates that the claims filed by WJT are frivolous, unsubstantiated, premised on fundamental factual misstatements and contrary to the overwhelming facts and evidence," Blue Star said.

Based on its assessment, the company said the claims made by WJT will not have any material financial impact on it.

Blue Star and WJ Towell & Co LLC (WJT) had entered into a shareholders' agreement on October 1, 2015 for managing affairs of Blue Star Oman Electro Mechanical Company.