Ashok Leyland wins partial arbitration award of Rs 222.65 Cr from DTC

Arbitration WonRegulatory & Legal View source PDF

ASHOKLEY · price

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₹157.56

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AI summary

Ashok Leyland won a partial victory in its 2013 arbitration against Delhi Transport Corporation (DTC) over bus supply contracts from 2009-2011. The Arbitral Tribunal, New Delhi, awarded Rs 222.65 Crore plus 10 percent annual interest for pre-arbitration, pendente lite, and post-award periods, along with Rs 2.96 Crore in legal costs. DTC's entire counterclaim of Rs 136 Crore was rejected. AL had originally claimed Rs 445 Crore and is reviewing the award to decide options for the remaining amount.

Likely market impact

Positive for Ashok Leyland - partial win with Rs 222.65 Cr award plus interest, DTC counterclaim fully rejected. Final quantum being ascertained.