PSP Projects Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company- Arbitration Award
PSPPROJECT · price
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PSP Projects Limited has won an arbitration case against Bhiwandi Nizampur City Municipal Corporation (BNCMC), with the Arbitral Tribunal pronouncing the award on January 11, 2026. The Tribunal has directed BNCMC to pay the company a principal amount of Rs. 61.44 crore along with interest accrued up to the date of the award, within 60 days. If BNCMC fails to pay within the stipulated period, it will be liable to pay additional interest at 11% per annum from the date of award until actual payment. The arbitration proceedings have now been concluded, and the company has stated there is no adverse impact on its financial position. An earlier intimation regarding the start of these proceedings was filed on February 2, 2023.
Positive for shareholders — the company is set to receive Rs. 61.44 crore plus interest, which could boost cash flows and earnings once realized. However, the actual benefit depends on BNCMC making the payment within the 60-day window; delays or defaults would only delay realization but still accrue 11% interest.