Deals2 Apr 2024, 10:02 pm
PNC Infratech Ltd Announces Execution of Settlement Agreement with National Highways Authority of India for Rs. 117.15 Crores
AI Summary
PNC Infratech Ltd has announced the execution of a Settlement Agreement with the National Highways Authority of India and its subsidiary, PNC Raebareli Highways Private Limited. The agreement is part of the Vivad Se Vishwas II (Contractual Disputes) Scheme of the Government of India and involves a one-time settlement of Rs. 117.15 crores for a dispute related to a highway project in Uttar Pradesh.
Key Highlights
- Settlement Agreement executed between PNC Infratech Ltd, NHAI, and its subsidiary
- Part of government's Vivad Se Vishwas II Scheme
- One-time settlement amount: Rs. 117.15 crores
- Dispute related to a highway project in Uttar Pradesh