Corporate News     06-Sep-16
SPML Infra debt to reduce debt
Following Cabinets decision on arbitration awards
SPML Infra announced that the Union Cabinet decision that requires Government agencies to pay 75% of arbitral awards will result in SPML's debt being reduced significantly. SPML has arbitration awards of over Rs 250 crore and with the last week's cabinet decision; the Company should get 75 per cent of this amount subsequently.

Further, claims worth around Rs 500 crore are in advance arbitration stage. The cabinet decision will further help SPML to secure these awards within the duration of 12 months. SPML has a standalone debt of Rs 540 crore.

Previous News
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