Adani Ports and Special Economic Zone Ltd updates on ongoing litigations

Adani Ports and Special Economic Zone Limited has announced updates on the ongoing litigations of the Company and its subsidiaries, including the arbitral matter of Adani Vizhinjam Port Private Limited (AVPPL), wholly owned subsidiary of the Company.

The arbitral tribunal has passed the consent award on 8th March, 2024, copy of which received on 17th March, 2024, in relation to the arbitration proceedings between AVPPL and the Government of Kerala (GoK).

As per consent award, (i) the GoK has extended the completion date from 3rd December, 2019 to 3rd December, 2024; and (ii) the Concession Agreement is extended by 5 years until 3rd December, 2060, subject to fulfillment of conditions therein.

The arbitration between AVPPL and GoK stands closed.

Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 1282.60 as compared to the previous close of Rs. 1269.20. The total number of shares traded during the day was 170314 in over 7394 trades.

The stock hit an intraday high of Rs. 1288.15 and intraday low of 1257.00. The net turnover during the day was Rs. 216677529.00.

Source : Equity Bulls

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AdaniPortsandSpecialEconomicZone INE742F01042 Updates OngoingLitigation Arbitration AdaniVizhinjamPort