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The Cabinet decision that requires government agencies to pay 75 per cent of arbitral awards will result in Hindustan Construction Company (HCC)’s debt being reduced by half. HCC, in a press statement, said the company has arbitration awards for over ₹3,200 crore and the company will get 75 per cent of this amount immediately. Similarly, claims worth around ₹5,000 crore are in the arbitration process. The decision will further help HCC to secure these awards within 12 months. HCC has a standalone debt of ₹4,900 crore.
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