Blue Star Wins Dubai Court of Appeal Ruling Against WJT Annulment Bid

Blue Star Limited said the Dubai Court of Appeal dismissed an application by W.J. Towell & Co LLC to annul an International Chamber of Commerce arbitration award that had dismissed WJT's entire claim of OMR 2,11,80,748. ScanX reported the ruling on October 31, 2026.

Blue Star's Oman Joint Venture Dispute

Blue Star holds a 51% stake in Blue Star Oman Electro Mechanical Company, while WJT holds 48% and Hussain Jawad Mohammed Ali Abdul Rasool, an Omani national, holds the remaining 1%. WJT filed arbitration with the International Chamber of Commerce in April 2024, claiming OMR 103,18,000 plus interest, and revised the statement of claim to OMR 2,11,80,748 in October 2024. Blue Star contested the claims as frivolous and unsubstantiated.

An ICC arbitrator issued an award on July 23, 2026 dismissing all of WJT's claims. WJT sought annulment with the Dubai Court of Appeal on September 15, 2026, and the court dismissed that application on October 31, 2026. Blue Star said the grounds WJT raised for annulment were baseless and that annulment proceedings are confined to limited grounds and do not reconsider the merits of the original award. The company said the outcome will not have a material financial impact on its position.

Blue Star's Scale And Market Position

Blue Star is a Mumbai-based public company founded in 1949, according to akta.pro company records. The same records put FY26 consolidated revenue at ₹12,402 crore, up 3.6%, and FY26 net profit at ₹527 crore, down 11% year on year after a one-time exceptional charge of ₹38.83 crore and lower other income. Blue Star holds approximately 14.3% of India's room air conditioner market and is targeting 15% in FY27, the records show.

Earlier Blue Star Developments

On September 29, 2026, Blue Star said it would raise air conditioner and refrigeration prices by 8% from October after absorbing some cost inflation, Fortune India reported, with operating margin at 3% in Q1FY27 versus 10% a year earlier. On October 29, 2026, Blue Star appointed Nithianand S as Group President, Supply Chain & Procurement, and Senthil Thangam as President, Air Conditioning & Refrigeration Solutions Group, effective November 1, 2026, ScanX reported. On October 30, 2026, Prabhudas Lilladher downgraded Blue Star to 'Accumulate' from 'BUY' with a price target of Rs 1,783, Moneycontrol.com reported, citing a segment EBIT margin drop to 2.3% from 6.2%.

What Comes Next For Blue Star

Blue Star said WJT may file a further appeal against the award and that the company plans to contest it with appropriate submissions.