GE T&D India updates on extension of termination of new contracts by GE Grid Solutions

GE T&D India announced that in relation to short term, non-exclusive contracts/purchase orders for global engineering services with other companies in the GE Grid Solutions division outside India, the Company was formally notified that with effect from 30 June 2021 no new contracts/purchase orders will be issued to the Company in relation to those services and existing contracts/purchase orders will lapse at their expiry date or be terminated by notice. Subsequently on this matter as last informed on 31 July 2021 GE Grid Solutions extended the termination date to 31 August 2021.

On request of the management, GE Grid Solutions has vide its communication dated 26 August 2021 further extended the date of termination to 31 December 2021.

The management continues to explore options to minimize the impact of such termination on the Company.

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