PNC Infratech Receives Payment of INR 114.81 Crores under 'Vivad Se Vishwas II' Scheme

PNC Infratech Ltd has announced the receipt of INR 114.81 crores following the execution of a Settlement Agreement between National Highways Authority of India (NHAI) and its subsidiary PNC Raebareli Highways Private Limited. The payment is for an amount of INR 117.15 crores resolved under the 'Vivad Se Vishwas II (Contractual Disputes)' Scheme of the Government of India. The dispute pertains to the Two Laning with Paved Shoulders of 166.440 km long Raebareli to Jaunpur Section of NH-231 Project. The detailed dispute information was submitted on 06.09.2023 with a claimed amount of INR 107.17 crores, which was revised to INR 114.58 crores on 30.09.2023. The Settlement Agreement was executed on 02.04.2024, with the payment received on 15.04.2024.