Noida Toll to terminate Arbitration proceedings against Mitsui Marubeni Corporation

Noida Toll Bridge Company Ltd has announced that with regard to the status of the Company's arbitration Proceedings with it's EPC Contractor, Mitsui Marubeni Corporation (MMC), the Company has been in arbitration with MMC for several years now, on which there has been no substantial progress.

The Parties have on September 28, 2006, signed a Settlement Agreement. The Arbitration proceedings have been terminated, all dues have been cleared and all claims withdrawn.

Source : Equity Bulls

Keywords