MBL Infrastructures Limited announced that the Learned Arbitral Tribunal has by majority of 2:1 passed an award dated January 31, 2022 in favor of the Company against Public Works Department, Government of Uttarakhand for a Road project in the state of Uttarakhand for a sum exceeding INR 600 million along with interest at the rate of 2% higher than the current rate of interest prevalent on the date of award in terms of Section 31(7) of the Arbitration and Conciliation Act 1996 from the date of award till the date of payment to the Company.
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