Dilip Buildcon Ltd. Wins Arbitration Against NHAI, Entitled to Rs. 46 Crore 9 Lacs

Dilip Buildcon Ltd. has successfully invoked arbitration against the National Highways Authority of India (NHAI) and is entitled to receive Rs. 46 Crore 9 Lacs (inclusive of interest up to date of the award) for various delays and breaches during the construction of Rehabilitation and Upgradation of Kerala Border to Kollegala Section of NH 212. The key aspects of the award include damages for delay in providing the Right of Way (ROW), payment of bonus for early completion of works, payment for deleted works, withheld interim payments and interest on delayed payment, refund of balance retention money, and costs of arbitration. If NHAI fails to pay the awarded amount, an interest at a rate of 2 percent above the SBI base rate calculated at quarterly rests will be levied. The award may be challenged by NHAI, in which case Dilip Buildcon Limited will defend the matter.