SMR Hyosang Automotive Ltd., an indirect wholly owned subsidiary of Samvardhana Motherson International Limited, entered a mediation agreement on April 6, 2026, with a sub-contractor in South Korea, settling dues arising from subcontracting transactions for KRW 360,000,000 (approximately INR 2,21,79,600), excluding Value Added Tax.
The settlement was facilitated by the Subcontracting Dispute Mediation Committee (SDMC) of the Korea Fair Trade Mediation Agency. The payment is due by April 27, 2026.
Samvardhana Motherson disclosed the development to the National Stock Exchange and BSE on April 7, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company stated there is no material impact on the financial position or operations of either SMR Hyosang or the parent entity. No violation or contravention was attributed to either party, as the resolution arose from a successful mediation process rather than an adverse order.
The exchange rate applied was 1 KRW = INR 0.06161, as on April 6, 2026.