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Essar Projects has made an out of court settlement over the outstanding dues of Rs 65 lakh owed to Digvijay Cement Company Ltd of the Aditya Birla Group.
The settlement was reached yesterday in Jamnagar and Essar has settled the entire amount due to Digvijay Cement, industry sources said.
An Essar group spokesperson also confirmed in a faxed reply that the issue between Essar Projects Ltd and Digvijay Cement has been amicably settled out of court.
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Essar had bought cement from Digvijay Cement for its various projects including Essar Oil, sources associated with the case said.
Digvijay Cement had earlier filed a case against Essar Projects officials in the court of the chief judicial magistrate in Jamnagar pleading for an early settlement of the dues.
The case was filed against Essar Projects employees _ J K Singh, senior vice-president, and J S Rao, joint general manager (finance and administration).