Legal27 Apr 2025, 01:31 pm
HCL Infosystems Awarded INR 150 Crore in Arbitration Case Against ITI Limited
AI Summary
HCL Infosystems Limited has received a final Arbitration Award of approximately INR 150 Crore from ITI Limited. The dispute was over the commissioning of telecom network for BSNL & MTNL. However, ITI Limited has filed Objections to the Award before the Commercial Court, Bangalore, and has been allowed subject to deposit of 75% of the award amount within 60 days. The Company has received the order on 26.04.2025.
Key Highlights
- HCL Infosystems awarded INR 150 Crore in Arbitration Case against ITI Limited
- ITI Limited has filed Objections to the Award before the Commercial Court, Bangalore
- ITI's stay application has been allowed subject to deposit of 75% of the award amount within 60 days from the date of the order dated 19.04.2025
- The Company has received the order on 26.04.2025
- The dispute was over the commissioning of telecom network for BSNL & MTNL