Dhule Palesner Tollway Ltd. wins arbitration award against NHAI.
Date: August 02, 2019
Dhule Palesner Tollway Limited ('DPTL'), a subsidiary of Sadbhav Infrastructure Project Ltd., has won an arbitration award against National Highways Authority of India (NHAI) of Rs. 56.39 Crores (including interest upto the date of award of Rs. 12.44 Crores). DPTL shall receive interest at the rate of 15.80% from 27th October, 2019 till final payment.
As per Restated Share Purchase Agreement ("RSPA") entered into on 28th October 2015, 60% of the awarded amount (net of taxes and expenses) shall be paid to HCC Concessions Limited.