JITF Urban Waste Management Jalandhar Ltd gets arbitration award

JITF Infralogistics Ltd has announced in reference to the arbitration proceedings between JITF Urban Waste Management (Jalandhar) Limited, a subsidiary of the Company and Municipal Corporation Jalandhar and Department of Local Government, Punjab with respect to Concession Agreement for development, construction, operation and maintenance of an integrated Municipal Solid Waste Management Project for Jalandhar Cluster in Punjab.

The Arbitral Tribunal has published and pronounced the final award in the above arbitration. The award has gone in favor of JITF Urban Waste Management (Jalandhar) Limited. The aggregate amount of various claims under the award of Rs.204,44,20,604 plus interest as per award. It is also to be noted that Municipal Corporation has the right to recourse against this award as per the provisions of Arbitration & Conciliation Act, 1996.

Shares of JITF Infralogistics Limited was last trading in BSE at Rs. 113.75 as compared to the previous close of Rs. 110.15. The total number of shares traded during the day was 5039 in over 57 trades.

The stock hit an intraday high of Rs. 114.85 and intraday low of 105.00. The net turnover during the day was Rs. 563673.00.

Source : Equity Bulls

Keywords

JITFInfralogistics INE863T01013 ArbitralAwardWin JITFUrbanWasteManagementJalandhar