Singapore court authorises seizure and sale of Tata Power's Singapore subsidiaries' shares in US$650 million debt chase

The Singapore International Commercial Court has granted enforcement orders authorising the Sheriff to seize and sell the shares held by India's Tata Power in two Singapore subsidiaries, to enforce an arbitration award. Applicant Kleros Capital Partners confirmed on November 6 that Tata Power has not paid any part of the award, and the debt including interest now exceeds US$650 million.

Shares in two Singapore subsidiaries to be seized

The enforcement orders (SIC/EO 4/2026) authorise the Sheriff to seize and sell Tata Power's shares in Bhira Investments Pte. Ltd. and Tata Power International Pte. Ltd. They follow the court's dismissal on August 26, 2026 of all of Tata Power's applications to set aside the arbitration awards in Kleros's favour, and the recognition of those awards as judgments of the Singapore Court.

Award principal of US$490 million; interest of about US$71,600 a day

On July 1, 2025, the tribunal awarded Kleros US$490.32 million in damages, plus simple interest of 5.33% per annum from November 30, 2020 until payment. Kleros says Tata Power has not paid any part of the sums due, and the debt now exceeds US$650 million, comprising principal of US$490.32 million, interest of about US$71,600 a day, plus costs. The public record does not state the subject matter of the underlying arbitration dispute.

Next step: Sheriff sells the shares

With the orders granted, the Sheriff may seize and sell the shares in the two subsidiaries to recover the award. Kleros gave no timetable for a sale, and Tata Power has not publicly responded to the orders.

(Source: Kleros Capital Partners, via CXP Asia, November 6, 2026.)