Kalpataru Projects International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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Kalpataru Projects International's wholly owned subsidiary, Wainganga Expressway Private Limited (WEPL), has issued an Intention to issue Termination Notice to NHAI (National Highways Authority of India) citing contractual defaults by NHAI. This follows a similar Termination Notice received from NHAI on 25th June 2025, where NHAI alleged default in premium payment and arbitrarily claimed INR 351.46 Cr. WEPL is disputing this claim. The backdrop is an earlier Arbitration Award dated 31st July 2024, which WEPL won by majority against NHAI, with the tribunal directing computation of compensation in WEPL's favour. NHAI has also challenged this award via a Section 34 petition filed on 30th October 2024. WEPL believes these ongoing disputes will not have significant financial implications given the earlier favourable award.
Investors should note that this is a back-and-forth contractual dispute between the subsidiary and NHAI over a highway concession. While NHAI's INR 351.46 Cr claim is being contested and WEPL cites a prior favourable arbitration award, prolonged litigation and the risk of termination of the concession could create uncertainty around cash flows. The company has stated no material financial impact is expected, but the situation warrants monitoring.