IRB Infrastructure Developers announced that IRS Pathankot Amritsar Toll Road (IPATRL) has informed the Company that a petition filed by NHAI challenging the Arbitral Award as referred in the disclosure, has been dismissed by the Honorable Delhi High Court and the Arbitral Award has been upheld. Accordingly, IPATRL will take necessary steps for enforcement of the said Award and upon receipt, appropriate the same towards the claims of the Company as the EPC Contractor while the extension to concession period would entirely accrue to the benefit of IPATRL and the Trust. The Arbitral Award amount is as follows:
Cost and time overrun on account of delay by NHAI in providing land – Rs 417.63 crore
Cost of arbitration award – Rs 1.58 crore
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