Home / Companies / News / NTPC to challenge Rs 2,000-crore arbitration award to Jindal ITF

NTPC to challenge Rs 2,000-crore arbitration award to Jindal ITF

NTPC would have to shell out around Rs 2,300 crore in the end going by the arbitration panel's decision, according to one of its lawyers

States restart imports of coal after domestic supply fails to meet demand

Premium

Last Updated : Feb 04 2019 | 8:36 PM IST

State-owned power producer NTPC Ltd (National Thermal Power Corporation Limited) said it would “take up legally” the arbitration tribunal’s order against it to shell out over Rs 2,000-crore to Jindal ITF in interest payments.

Jindal ITF is a subsidiary of Jindal SAW.

NTPC would have to pay extra interest depending on time between the date of filing of the arbitration and when they pay up, Jindal ITF lawyer Manoj K Singh founding partner at Singh & Associates, said. “So this future interest component and other costs, such as the cost of litigation, will come to around Rs 300 crore, which

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in