Akash Infra Projects Limited has informed regarding Disclosure of material event under Regulation 30 of LODR

Arbitration WonRegulatory & Legal View source PDF

AKASH · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-1.4%1-day move

₹27.13

prior close

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base price

After-mkt

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AI summary

Akash Infra Projects Limited received a favourable Common Order from the Commercial Court at City Civil Court, Ahmedabad in its dispute with Ahmedabad Municipal Corporation. The Court upheld the Arbitrator's Awards dated 31.01.2022, finding them lawful, reasoned, and free from irrationality. AMC's plea to quash the Awards was rejected, and the Contractor's plea to enhance awarded amounts was also dismissed. Both parties' applications were dismissed. No compensation claim is applicable as the plea was rejected.

Likely market impact

Positive development for the company — the arbitration awards in its favour have been legally upheld. No immediate financial impact since the compensation plea was rejected, but the favourable ruling removes legal uncertainty around the awards.