Intimation of receipt of arbitration award under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
C & C Constructions Ltd has received an arbitration award of INR 66 Crore (including 9% interest till 26th July 2025) in its favour from the Arbitral Tribunal. The dispute was with H.P. Road & Other Infrastructure Development Corporation Limited (HPRIDC) concerning a road construction contract for widening and strengthening the Theog-Kotkhai-Kharatpathar Road Section (48 km) in Himachal Pradesh. Future interest at 9% per annum will continue to accrue until the amount is actually paid. The award was officially released on 26th July 2025, with formal communication reaching the company on 28th July 2025. The company states that the full amount along with interest will positively impact its financial position.
This is a positive outcome for shareholders as the company stands to receive INR 66 Crore plus continuing interest, which should strengthen its cash flow and overall financial position. However, the actual realisation depends on HPRIDC paying the awarded amount, which may take time if the counterparty contests or delays payment.