MBL Infrastructures Ltd gets three favorable arbitration awards

The Learned Arbitral Tribunal comprising of Hon'ble Justice Bhaskar Bhattacharya, former Chief Justice Gujarat High Court, Presiding Arbitrator, Hon'ble Justice J.D. Kapoor, former Judge, Delhi High Court, Co-Arbitrator and Hon'ble Justice Jayanta Kumar Biswas, former judge Calcutta High Court, Co-Arbitrator has unanimously passed an award for a sum of Rs 22.40 crores (including interest till 29.06.2020) plus interest till the payment of the amount in favour of MBL Infrastructures Ltd against Hooghly River Bridge Commissioners.

The Learned Dispute Review Board comprising of three independent members has unanimously recommended National Highways Authority of India for release of Rs.8.88 crores (including interest till 30.06.2020) plus further interest of 10% p.a. till the date of payment in favour of the Company in respect of completed project of Construction of Residential Accommodation for NHAI staff at Dwarka, New Delhi.

The Learned Dispute Review Board comprising of three independent members has recommended National Highways Authority of India for release of Rs 8.99 crores (including interest upto 30.06.2020) plus further interest of 10% p.a. till the date of payment in favour of the Company in respect of completed project of Widening & Strengthening of km 183.000 to km 163.895 of Sonapur to Guwahati section of NH-37 in Assam on East-West Corridor, Package AS-03.

Shares of MBL Infrastructures Ltd was last trading in BSE at Rs.6.08 as compared to the previous close of Rs. 6.4. The total number of shares traded during the day was 3252 in over 10 trades.

The stock hit an intraday high of Rs. 6.6 and intraday low of 6.08. The net turnover during the day was Rs. 21071.

Source : Equity Bulls

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