Sunteck Realty arm gets closure from London court in Grand Valley case

Sunteck Lifestyles Ltd (SLL), its fully owned step-down Dubai subsidiary, received an order from the London Court of International Arbitration confirming the withdrawal of the claim and termination of arbitration with its joint venture partner, Grand Valley General Trading LLC, according to a statement released by Sunteck Realty Ltd on Monday, November 24. This comes after the company's previous disclosures. Sunteck Realty announced the dispute resolution on August 13, 2024. The Dubai International Financial Centre Court subsequently issued an order on December 18, 2024, confirming the parties' settlement and the claim's removal.