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Reliance Infrastructure has won ₹16-crore arbitration award against the National Highway Authority of India.
NHAI has been asked to pay the amount by February 10, said Reliance Infra on Tuesday.
A three-member Arbitration Tribunal in its unanimous award on Monday asked NHAI to shell out interest at 12 per cent per annum, if they do not pay the dues by the deadline.
This award is in addition to the ₹200-crore arbitration favouring RInfra in the same project in August for cost over-run and loss of revenue, the statement said.
The current arbitration was due to cost over-run in consultant fees during construction, delayed payment of grant and additional expenses to TD Toll Road Private Ltd (TD Toll Road), a wholly-owned subsidiary of RInfra. NHAI did not reimburse TD Toll Road as per the terms of the Concession Agreement.
With this award, Reliance Infrastructure has won a total of six Arbitration Awards amounting to ₹6,300 crore in cases of Delhi Metro Rail Corporation, Goa Power Plant and NHAI Roads. In addition, Reliance Infrastructure has over ₹8,000 crore of claims under advanced stages of arbitration for engineering, procurement and construction projects, Mumbai Metro and Roads.
The proceedings of the Arbitration Tribunal were held for one-and-half-years starting last April, and all pleadings and arguments by both the parties were completed in 39 sittings.
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