By earn IRB INFRA ; IRB Infra's subsidiary, IRBAV, did not win its arbitration claim for revenue losses against NHAI, related to a competing road that emerged in 2019, not 2015-16 as claimed.
No compensation was granted for the competing road, but IRBAV must pay NHAI as per the Premium Deferment Scheme.
NHAI's counterclaim of Rs. 29.73 Crore was rejected, while IRBAV was awarded Rs. 1.9 Crore plus interest for losses due to NHAI's unwarranted retention of a Bank Guarantee, which must now be returned
Please follow and like us:
