Airport Authority of India pays Artefact Projects Rs 1.58 crore in arbitration award
Artefact Projects announced that the Hon'ble Delhi High Court has passed an Order in favour of the Company thereby directing Airport Authority of India for payment of Rs 1.58 crore including interest, wherein Hon'ble High Court dismissed the petition filed by the AAI entirely and upheld the Arbitration Award in favour of the Company.The Company has rendered comprehensive architectural and engineering services for design and supervision of construction of international terminal building at Trivandrum Airport where AAI failed to pay the agreed fees. An arbitration award was passed in favour of the Company. AAI had challenged the award in High Court of Delhi.
The Company has received an amount of Rs 1.58 crore on 26 October 2017.
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