Legal26 May 2025, 06:57 pm
Afcons Infrastructure Ltd Wins Unanimous Arbitration Award of Rs. 231.94 Crore
AI Summary
Afcons Infrastructure Ltd has received an unanimous Arbitration Award in favour of Transtonnelstroy Afcons Joint Venture from the Arbitral Tribunal under the Arbitration and Conciliation Act 1996. The award, amounting to Rs. 231.94 Crore, was passed on May 26, 2025, in the arbitration matter of Transtonnelstroy Afcons JV vs. Kolkata Metro Rail Corporation Limited (KMRC). KMRC is directed to pay the net total amount to Transtonnelstroy Afcons JV within 90 days, failing which additional interest will be charged. This award will have a positive impact on Afcons Infrastructure's financial position.
Key Highlights
- Afcons Infrastructure Ltd wins unanimous Arbitration Award
- Award amounting to Rs. 231.94 Crore
- KMRC directed to pay the net total amount within 90 days
- Additional interest to be charged if not paid within 90 days
- Positive impact on Afcons Infrastructure's financial position