Legal23 Sept 2026, 06:50 pm
IRCON International Ltd: Arbitration Award ₹147 Cr Against Claim
AI Summary
IRCON International Ltd has provided an update on a pending litigation concerning work package T-74R-A. AFCON's had raised a dispute amounting to ₹359.72 Cr. A majority tribunal declared an award of ₹147.14 Cr on June 29, 2026. A minority tribunal declared a dissent opinion awarding ₹23.64 Cr on September 23, 2026. The arbitration process is now complete, but IRCON intends to challenge the award before the High Court of Delhi.
Key Highlights
- IRCON faces an arbitration award of ₹147.14 Cr against a ₹359.72 Cr claim.
- A minority tribunal awarded ₹23.64 Cr, indicating a divided decision.
- IRCON plans to challenge the award in the High Court of Delhi.
- The arbitration process has concluded, with legal recourse pending.
Price Impact
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