Legal25 Sept 2025, 06:21 pm
Kalpataru Projects Subsidiary Settles Arbitration Dispute for Road Project
AI Summary
Kalpataru Projects International Ltd. has disclosed that its wholly owned subsidiary, Vindhyachal Expressway Private Limited (VEPL), has executed a Settlement Agreement in connection with an arbitration award. The award, which was in favor of VEPL and other inter se disputes, pertained to disputes arising out of the road project undertaken by VEPL. The agreement was amicably settled under the provisions of Section 73 of the Arbitration and Conciliation Act, 1996. The intimation of entering into the Settlement Agreement was received on 24th September, 2025 at about 7:50 P.M.
Key Highlights
- Kalpataru Projects International Ltd.'s subsidiary, Vindhyachal Expressway Private Limited, has executed a Settlement Agreement.
- The Settlement Agreement is in connection with an arbitration award that was pronounced in favor of VEPL and other inter se disputes.
- The disputes arose out of the road project undertaken by VEPL.
- The agreement was amicably settled under the provisions of Section 73 of the Arbitration and Conciliation Act, 1996.
- The intimation of entering into the Settlement Agreement was received on 24th September, 2025.