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| Exchange Disseminated Time 25/05/2016 18:39:38 | | Future Market Networks Ltd has informed BSE that in the Arbitration proceedings before the sole Arbitrator, appointed by the Hon’ble High Court of Calcutta, in respect of disputes arose out of termination of a license agreement related to a shopping mall, the Arbitrator has awarded a net amount of Rs. 12,90,52,379/- (Rupees Twelve Crore Ninety Lacs Fifty Two Thousand Three Hundred Seventy Nine Only) to the Claimant after allowing certain counter claims of the Company. The Company is in the process of filing an appeal / application against the award in terms of the applicable provision of law before the Hon’ble High Court of Calcutta. The Company received the award on May 25, 2016. |
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