JITF Infralogistics Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations )'.
JITFINFRA · price
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JITF Infralogistics disclosed an arbitral award pronounced on 21.05.2025 involving its step-down subsidiary JITF Urban Waste Management (Bathinda) Ltd. (JUWMBL) and the Municipal Corporation of Bhatinda. The Tribunal ruled that JUWMBL's termination of the waste management contract was illegal and ordered the subsidiary to continue performing the contract until expiry or valid early termination. JUWMBL was awarded a tipping fee claim of Rs. 1.83 Crore with SBI PLR interest, but the respondent's counterclaim of Rs. 8.11 Lacs for land lease payment (with interest) was also accepted against it. The company stated the award has no adverse financial impact on JUWMBL, though the subsidiary is actively pursuing legal recourse against the ruling.
Mixed outcome for the subsidiary — it retains the contract and gets a modest tipping fee award, but must also pay a land lease counterclaim and continue operating the project; ongoing legal challenge could prolong uncertainty around the Bhatinda project's performance.