Betamax Seeks Rs 75 Million from STC to Cover Supreme Court Expenses

Betamax is demanding Rs 75 million from the State Trading Corporation (STC) to cover legal expenses in their ongoing Supreme Court case.

The claim was made on October 20th and was disclosed by the Minister of Commerce during a National Assembly session on November 21.

The case involves the termination of a contract between STC and Betamax for petroleum product transportation.

The Minister also revealed that legal fees totalling Rs 234 million have been paid so far, with over Rs 69.4 million going to lawyers for the Singapore International Arbitration Centre case, Rs 13.2 million for proceedings in the High Court of Karnataka, and nearly Rs 28 million for the Supreme Court case.

Betamax’s claim is currently under review by the STC’s legal team.

Source: Defi Media