Legal15 Jul 2025, 09:21 pm
Kalpataru Projects Subsidiary Terminates Contract with National Highways Authority of India
AI Summary
Kalpataru Projects International Ltd. announced that its wholly owned subsidiary, Wainganga Expressway Private Limited (WEPL), has issued a Termination Notice to the National Highways Authority of India (NHAI) due to various contractual defaults. The Concession Agreement stands terminated from 15th July, 2025. WEPL is contesting the dispute through legal remedies and believes it has a favorable legal position. The termination is not expected to have significant financial implications on the Company.
Key Highlights
- Kalpataru Projects' subsidiary terminates contract with NHAI
- Contract termination due to NHAI's contractual defaults
- Termination notice issued on 15th July, 2025
- WEPL contesting dispute through legal remedies
- No significant financial implications expected for the Company