MBL Infrastructures Ltd receives arbitration award for a sum exceeding Rs 60 crores

The Learned Arbitral Tribunal has by majority of 2:1 passed an award dated 31.01.2022 in favour of MBL Infrastructures Ltd against Public Works Department, Government of Uttarakhand for a Road project in the state of Uttarakhand for a sum exceeding Rs 60 crores along with interest at the rate of 2% higher than the current rate of interest prevalent on the date of award in terms of Section 31 (7) of the Arbitration and Conciliation Act 1996 from the date of award till the date of payment to the Company.

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 34.85 as compared to the previous close of Rs. 36.00. The total number of shares traded during the day was 55701 in over 304 trades.

The stock hit an intraday high of Rs. 36.85 and intraday low of 34.35. The net turnover during the day was Rs. 1985238.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 ArbitralTribunal ArbitrationAward INR60Crores