ITD Cementation India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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ITD Cementation India and Reliance Infrastructure have mutually agreed to terminate arbitration proceedings that had been ongoing since June 2024. The company had claimed Rs. 2.85 crore plus interest and arbitration costs from Reliance Infra under a works contract, while Reliance Infra had filed counter-claims of approximately Rs. 59.83 crore with interest. Both parties unconditionally withdrew their respective claims and counter-claims before the Arbitral Tribunal, which accepted the joint application and passed a termination order on July 31, 2025. The company has stated there is no material financial impact from this settlement.
Neutral outcome for shareholders — while ITD Cementation gives up its Rs. 2.85 crore claim, it also avoids the much larger Rs. 59.83 crore counter-claim exposure from Reliance Infra, effectively removing a significant litigation overhang without any material financial hit.