Chennai
As part of the settlement, the Japanese automaker is to get between Rs 1400 cr ($185 mn) and Rs 1800 cr ($238 mn), two sources aware of the matter said.
The dispute arose after Nissan said TN hadn’t paid certain incentives under a 2008 agreement to set up a car plant in the southern state. Nissan initiated an international arbitration against India in 2016, claiming Rs 2100 cr in unpaid dues and Rs 2900 cr in damages and other costs. TN has been trying to reach a settlement with Nissan for several years.
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