Award2 Aug 2026, 04:00 pm
Cemindia JV Awarded ₹212.54 Cr by Arbitration Tribunal
AI Summary
Cemindia Projects Ltd's joint venture, ITD ITD Cem JV (49% share), has received an award of ₹212.54 Crore plus GST and costs from a 3-member Arbitration Tribunal. This award stems from contractual claims against Delhi Metro Rail Corporation Limited (DMRCL) related to a contract initiated in 2013. The dispute involved additional costs due to work prolongation and uncertified work. DMRCL's counter-claim of ₹22.19 Crore was entirely rejected. The final financial impact will be determined upon actual receipt of the awarded amount.
Key Highlights
- JV awarded ₹212.54 Cr plus GST and costs.
- DMRCL's counter-claim of ₹22.19 Cr was rejected.
- Dispute related to contract claims from 2013.
- Financial impact depends on actual receipt of funds.
- Arbitral Tribunal published award on August 1, 2026.
Price Impact
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