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| Exchange Received Time 21/08/2018 09:16:14 Exchange Disseminated Time 21/08/2018 09:16:20 Time Taken 00:00:06 | We wish to inform you that the Hon`ble Arbitrator, in relation to Arbitration Proceedings between Manaj Tollway Private Limited (MTPL) and Public Works Department (PWD), Pune, Government of Maharashtra, vide his award dated 17th August 2018 (copy of which was received on 20th August 2018), has directed PWD, Pune to pay a sum of Rs. 337.88 Crores to Manaj Tollway Private Limited.
Further as per Arbitral Award, interest @ 15% p.a. for the period from date of aforesaid Arbitral Award till the date of actual payment shall be payable by PWD, Pune.
MTPL had given termination notice and invoked arbitration against PWD, Pune in relation to the Project viz. Four Laning to Hadapsar- Saswad- Belsarphata SH 64 Km. 9.800 to 42.860 & Belha- Pabal- Uralikanchan- Jejuri- Nira SH 61 Km. 110.00 to 118.00 (Part Hadapsar to Jejuri M.I.D.C.), Taluka Purandar, District Pune on DBFOT basis
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