Samvardhana Motherson International Limited's indirect wholly-owned subsidiary, SMR Hyosang Automotive Ltd., has resolved a subcontracting dispute through a mediation agreement.
The settlement, facilitated by the Subcontracting Dispute Mediation Committee (SDMC) of Korea Fair Trade Mediation Agency, was reached on April 6, 2026.
Under the terms of the agreement, SMR Hyosang will pay its subcontractor an amount of KRW 360,000,000, which is approximately equivalent to ₹22,179,600, excluding Value Added Tax. This payment is scheduled to be completed by April 27, 2026.
The mediation agreement effectively settles the dues and claims arising from subcontracting transactions between the parties. The SDMC order dated April 6, 2026, confirmed the successful mediation outcome.
Notably, Samvardhana Motherson International Limited has stated that the settlement will not have a material impact on the financial, operational, or other activities of SMR Hyosang or the parent company.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).