News
IRB Infra receives 75% of the Arbitration Award of Rs. 419 Cr from IRB InvIT Fund SPV IRB Pathankot Amritsar Toll Road Ltd.
Delhi, June 22, 2022: IRB Infrastructure Developers Ltd., has received Rs. 308 Crores towards part payment i.e., 75% of the total Arbitration Award from the National Highway Authority of India (NHAI).
Commenting on the development, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We deeply appreciate the steps taken by the Cabinet Committee on Economic Affairs for providing interim cashflow access to developers in clear award scenarios till a final verdict is closed.”
Earlier, pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of construction sector, it had directed the Government Agencies to pay 75% of Arbitral Award amount against the Bank Guarantee where Government Agencies have challenged the Arbitral Award.
-
News3 weeks ago
KW Delhi 6 Mall Onboards New Brands
-
News4 weeks ago
Manasum Senior Living Launches IKIGAI GOA, A Senior Living Community in North Goa, in collaboration with Prescon Homes
-
News2 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
Bridging India Divide: Top 5 Tier- 2 Cities to Focus On
-
News3 weeks ago
Commercial Realty Gets Tech Savvy: Fast Construction, Enhanced Convenience
-
News4 weeks ago
Multipoint Connection – A Definite Boon
-
News3 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News1 week ago
Olive Announces Dhruv Kalro as Co-Founder