Kalpataru Projects JV arbitration award partially set aside

Kalpataru Projects International Ltd (KPIL) has been informed that the Hon'ble High Court, via an order dated July 28, 2026, has partially set aside an arbitral award previously granted to Kurukshetra Expressway Private Limited (KEPL), a joint venture of KPIL. The award related to a road project terminated in 2021 by KEPL against the National Highways Authority of India (NHAI). While the award concerning the Termination Payment and associated interest has been set aside, awards on all other claims have been upheld. KEPL, based on legal advice, believes it has a strong case to challenge the set-aside claim and is pursuing an appeal.