Legal17 Feb 2025, 04:37 pm
Dilip Buildcon Ltd Settles Disputes with DNMHPL for Rs. 176.90 Crores
AI Summary
Dilip Buildcon Ltd (DBL) has announced a settlement agreement with DNMHPL, a company for which DBL worked as an EPC Contractor. The settlement, overseen by the National Highways Authority of India (NHAI), resolves disputes related to the Six laning of Nidigatta - Mysore Section of NH-275 in Karnataka. The disputes were referred to NHAI for conciliation and amicable settlement, and the Conciliation Committee of Independent Experts (CCIE) made decisions on the disputes. The settlement amount of Rs. 176.90 Crores will be disbursed to DNMHPL by NHAI within 30 days. This is a full and final settlement of the claims.
Key Highlights
- Settlement amount of Rs. 176.90 Crores
- Disputes related to the Six laning of Nidigatta - Mysore Section of NH-275 in Karnataka
- Conciliation Committee of Independent Experts (CCIE) made decisions on the disputes
- NHAI to disburse the agreed amount to DNMHPL within 30 days
- Full and final settlement of the claims