|
Va Tech Wabag has won an Arbitration award against Kerala Water
Authority for dispute pertaining to the works of JBIC Assisted Kerala water supply project package-1 works for Cherthala Scheme, Intake Water, Raw Water Transmission Main and Water Treatment
plant.
The Hon'ble Arbitrator has rejected the Counter Claims filed by Kerala Water Authority of Rs. 83 crore and allowed the Claims of Va Tech Wabag of return of Bank Guarantee (BG) amount of Rs. 23,24,29,700/-and release of Rs. 12,86,70,359/- along with 9% interest from the date of award i.e. 03 July 2024 till the date of realization of payment.
Total award as on 03 July 2024 is Rs. 36,11,00,059/-
|