MBL Infrastructure Ltd update on arbitration award

The Learned Arbitral Tribunal passed an award dated 22.11.2022 in favour of the Company against Public Works Department, Delhi for a residential complex project in Delhi for a sum of Rs 9.29 crores plus interest at the rate of 10% p.a. payable from the date of publication of award i.e. 22.11.2022, if not paid within 90 days. The Learned Tribunal has also given Declaratory award that balance work be completed through the Company on payment basis and further that the expenditure of rehabilitation & repairs of existing works be borne by the parties in the ratio of 2:1 (Company: PWD).

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 20.10 as compared to the previous close of Rs. 20.20. The total number of shares traded during the day was 12268 in over 197 trades.

The stock hit an intraday high of Rs. 20.75 and intraday low of 19.80. The net turnover during the day was Rs. 246904.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 ArtbitralAward