MBL Infra update on Arbitration award/ Court Order

The Division Bench of Hon'ble High Court of Delhi by order dated 20.12.2022 has upheld the majority Arbitration award dated 20.01.2020 against M/s Telecommunications Consultants India Ltd (TCIL) in respect of construction of 144 Nos Type V and 24 Nos Type VI Houses in Campus of Rajiv Gandhi Thermal Power Project at Khedar in Hisar District, Haryana. The net amount receivable in terms of the arbitration award/Court Order has been worked out as Rs 18.24 crores as on 24.12.2022 with further interest accruing @12% p.a. compounded with monthly rests till receipt of the amount.

Shares of MBL Infrastructures Limited was last trading in BSE at Rs. 19.20 as compared to the previous close of Rs. 20.45. The total number of shares traded during the day was 24357 in over 290 trades.

The stock hit an intraday high of Rs. 20.70 and intraday low of 18.85. The net turnover during the day was Rs. 468914.00.

Source : Equity Bulls

Keywords

MBLInfrastructures INE912H01013 ArbitrationAward Upheld