HCL Infosystems Subsidiary Allowed to Withdraw INR 4.96 Crore from HPSEBL for RAPDRP Project

HCL Infosystems Limited has informed the exchange about an interim order from the High Court of Himachal Pradesh. The order allows HCL Infotech Limited, a wholly owned subsidiary, to withdraw the remaining amount of INR 4.96 Crore for the RAPDRP project, along with complete interest, against a security (i.e., submission of a Bank Guarantee for an equivalent amount) to the satisfaction of the Court. The order is in an Appeal filed by Himachal Pradesh State Electricity Board (HPSEBL) against one of the awards dated 15.03.2024 as amended and corrected vide order dated 09.05.2024. The parties have the right to file an appeal against the above order.