Legal10 Oct 2025, 09:59 am
Ceigall India Ltd. Receives Arbitration Award of INR 6.61 Crore from Punjab Public Works Department
AI Summary
Ceigall India Ltd. has received an arbitration award of INR 6.61 Crore from the Punjab Public Works Department, as declared by the Honourable Arbitral Tribunal under Section 31 of the Arbitration and Conciliation Act 1996. The award is in relation to the project 'Construction of Internal Roads, Estate Public Health Services & Campus Lighting Interim Airport Terminal at Halwara IAF Station (EPC Mode) Distt: Ludhiana (Punjab)'. The company will also receive future interest @ 12% w.e.f 09-10-2025 and the release of a bank guarantee of 80 lakhs.
Key Highlights
- Ceigall India Ltd. receives an arbitration award of INR 6.61 Crore from Punjab Public Works Department.
- The award is in relation to the project 'Construction of Internal Roads, Estate Public Health Services & Campus Lighting Interim Airport Terminal at Halwara IAF Station (EPC Mode) Distt: Ludhiana (Punjab)'.
- The company will also receive future interest @ 12% w.e.f 09-10-2025.
- Punjab Public Works Department directed to release a bank guarantee of 80 lakhs.
- This award will have a positive impact on the financial position of Ceigall India Ltd.