Legal13 May 2026, 08:01 pm
Khadim India: Court Upholds ₹31.97 Cr Arbitral Award
AI Summary
The High Court of Punjab and Haryana confirmed an arbitral award in favor of Khadim India Ltd, rejecting a lower court's order. The dispute involves the withholding of receivables and forfeiture of a performance bank guarantee by Samagra Shiksha Abhiyan Authority (SSAA), Punjab. The arbitral award, dated June 27, 2022, entitles Khadim to ₹31.97 Cr plus interest and the refund of forfeited bank guarantees with interest.
Key Highlights
- High Court confirms arbitral award of ₹31.97 Cr in favor of Khadim India.
- Dispute relates to withheld receivables and forfeited bank guarantee by SSAA Punjab.
- Khadim is entitled to ₹31.97 Cr plus interest @ 9% p.a.
- Company also to receive refund of forfeited bank guarantees with interest @ 4.5% p.a.
- The decision is related to a tender for the supply of school shoes and uniform.