Cemindia Projects Ltd

🏗️ Cemindia JV Secures Arbitration Award Against Delhi Metro

- The 49% owned Joint Venture (ITD ITD Cem JV) received an arbitration award related to a contract with Delhi Metro Rail Corporation (DMRCL).

- The Arbitral Tribunal awarded the JV Rs 212.54 Crore + GST + Rs 0.87 Crore as Cost + post-award interest.

- The award was against the JV's original claim of Rs 322.22 Crore + Interest + GST + Cost.

- DMRCL's Counter Claim of Rs 22.19 Cr + Interest + GST + Cost was entirely rejected by the Tribunal.

- The financial impact on Cemindia Projects can only be determined upon actual receipt of the awarded amount.