Disclosure pertaining to the update on Litigation/Dispute.
EIEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Enviro Infra Engineers Ltd has won two arbitration cases against Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC). The company initiated these proceedings in 2022 before the Delhi International Arbitration Centre due to non-payment of dues for two Common Effluent Treatment Plant projects. The Learned Sole Arbitrator awarded approximately ₹4.75 crore for the Faridabad project and approximately ₹3.35 crore for the Rohtak project, totaling about ₹8.65 crore. Additionally, the company will receive ₹14 lakh in legal costs per reference, refund of DIAC fees, and interest at 16% per annum from January 1, 2026 on the principal sums.
Positive for shareholders - the company will receive approximately ₹8.65 crore plus interest and legal costs, strengthening its financial position through recovery of outstanding dues.