MBL Infrastructure Ltd. Secures Rs 77.85 Crores from Arbitration Award

MBL Infrastructure Ltd. has secured an arbitration award of Rs 77.85 crores from the Commercial Court, Dehradun, Uttarakhand. The award is regarding the Road Project of 'Improvement/Strengthening of 15 roads in District - Almora (Package C-4), Phase-III'. The total amount includes further interest accruing at the rate of 2% higher than the current rate of interest prevalent on the date of award in terms of Section 31(7) of the Arbitration and Conciliation Act 1996 till the date of payment. The current rate of interest is 8.90% p.a.