A three-member Arbitration Tribunal in its unanimous award on November 12, 2018 has asked NHAI to pay Rs 16.14 crore by February 10, 2019 to Reliance Infrastructure.
Share price of Reliance Infrastructure rose 4 percent on winning Rs 16.14 crore arbitration award against National Highway Authority of India (NHAI).
A three-member Arbitration Tribunal in its unanimous award on November 12, 2018 has asked NHAI to pay Rs 16.14 crore by February 10, 2019 to Reliance Infrastructure.
NHAI will have to pay interest at 12 percent p.a. on the amount if they do not pay said amount by the deadline, company said in release.
This win is in addition to the Rs 200 crore arbitration award that the three-member Arbitration Tribunal in its unanimous decision had ordered NHAI to pay to Reliance Infrastructure for the same project in August this year for cost over-run and loss of revenue.
At 14:52 hrs Reliance Infrastructure was quoting at Rs 357.40, up Rs 7.35, or 2.10 percent.
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