Indian Metals & Ferro Alloys has arrived at an out of court settlement in a long pending arbitration matter and related legal proceedings pertaining to a conversion contract where it was to produce ferro chrome for a third party. The Settlement Agreement has been signed and the Company has received an amount of Rs 49.99 crore including GST. Pursuant to the agreement, a Joint Settlement Petition has also been signed and legal proceedings by both sides shall be withdrawn in due course when the matter is heard .
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