Kalpataru Projects JV Loses Appeal on Arbitral Award

Kalpataru Projects International Ltd (KPIL) has provided an update on the arbitration proceedings involving its joint venture, Kurukshetra Expressway Private Limited (KEPL). The Hon'ble Delhi High Court, vide its order dated September 28, 2026, upheld a previous order dated July 28, 2026, which had partially set aside an arbitral award. The award related to a termination payment and interest for a road project terminated in 2021. KEPL, based on legal advice, believes it has a strong case to challenge the High Court's order and is taking appropriate legal steps, including filing a petition. The company received the latest order on September 28, 2026.