PNC Infratech Limited Announces Execution of Settlement Agreement with NHAI for Rs. 398.6 Crores

PNC Infratech Limited has announced the execution of a settlement agreement with the National Highways Authority of India (NHAI) for an amount of Rs. 398.6 crores under the Vivad Se Vishwas II (Contractual Disputes) Scheme of the Government of India. This follows a series of submissions of eligible disputes by PNC Kanpur Highways Limited, a subsidiary of PNC Infratech, through the Government e-Market Place (GeM) portal in October 2023. The settlement amount, which includes the original claim of Rs. 395.02 crores along with interest, was confirmed in an offer by NHAI in December 2023 and accepted by PNC Kanpur Highways Limited on May 9, 2024.