MBL Infrastructure wins arbitration award worth Rs 82.77 crores
MBLINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MBL Infrastructure's arbitration award of Rs 82.77 crores including interest in favour of the company has been upheld. The Commercial Court in Dehradun dismissed petitions filed by Uttarakhand's Public Works Department challenging the award. The award relates to a road improvement and strengthening project in Udham Singh Nagar district. Interest at 12 percent per year continues to accrue until the government makes payment to the company.
Positive - arbitration award of Rs 82.77 crores upheld, court dismissed government petitions, 12 percent interest continues accruing till payment.