MBL Infrastructure Ltd Update on Arbitration Award

The Commercial Court, Dehradun, Uttarakhand has passed order directing Public Works Department, Government of Uttarakhand to pay to the Company by due date amount of Arbitration Award dated 23.03.2024 regarding a completed Road Project of 'Improvement/Strengthening of State Roads in the district of Nainital & Udham Singh Nagar, Package no. 5".

The Learned Arbitral Tribunal had passed unanimous Award dated 23.03.2024 in favour of the Company against PWD, Uttarakhand for completed Road project for a sum of Rs 17.24 crores (including interest upto the date of Award) plus future interest of 1 2% p.a. from the date of Award to the actual date of payment along with declaratory award of GST.

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 40.85 as compared to the previous close of Rs. 41.77. The total number of shares traded during the day was 4243 in over 133 trades.

The stock hit an intraday high of Rs. 43.18 and intraday low of 40.80. The net turnover during the day was Rs. 178304.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 ArbitrationAward