Reliance Infrastructure wins Rs 1,204 cr arbitration award from NHAI
Reliance Infrastructure has won a Rs 1,204 crore arbitration award from the National Highway Authority of India NHAI.
In the matter of arbitration between TK Toll Road Private Limited (TKTR), a wholly owned subsidiary of Reliance Infrastructure and NHAI, in an execution petition, the Delhi High Court, vide order its dated August 9, received by the Company on August 10 directed NHAI to deposit of the awarded amount along with interest total sum of Rs 1,204 crore with the Delhi High Court and allowed TKTR to withdraw the same against the Bank Guarantee.
The amount will be utilized for debt reduction, Reliance Infrastructure said in a filing.
TK Toll Road provides connectivity from Trichy to Karur in Tamil Nadu via a 82 km long four lane National Highway (NH 67 road).
