Ashoka Buildcon announced that one of its Wholly Owned Subsidiaries viz. Ashoka Infrastructure ('SPV'), which had executed Pune Shirur Road Project in the State of Maharashtra, has received an Arbitral Award of Rs.383.80 crore, against various claims filed by the SPV.
The Project had been awarded by Government of Maharashtra, Executive Engineer, Public Works Department, Division Pune, viz.
Four Lanning and strengthening of Pune Ahmednagar Road SH 60 in km. 10/600 to 64/00. The toll collection at the said Project had been stopped since 08 August 2014.
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