Noida Toll Bridge Company Limited has informed the Exchange about Action(s) initiated or orders passed in the matter of filing Review petition filed by the Company
NOIDATOLL · price
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Noida Toll Bridge Company Limited (NTBCL) has informed exchanges that the Hon'ble Supreme Court of India refused to review its earlier decision dated December 20, 2024, and dismissed the company's review petition. The original case involved the Federation of Noida Residents' Welfare Association and others, and challenged the validity of the Concession Agreement between NOIDA, IL&FS and NTBCL. The company states that the financial and operational impact of this ruling is 'yet to be ascertained.' NTBCL said it will explore a way forward in consultation with appropriate authorities.
This is an adverse outcome for NTBCL as it loses its attempt to overturn the Supreme Court's earlier verdict, which may affect the validity or terms of its toll concession agreement. The exact financial and operational impact remains unclear, creating uncertainty for shareholders pending further clarity from the company.