NHAI kicks off arbitration claim settlement via reconciliation process

The NHAI also raised claims of Rs 145.33 crore, excluding interest, against the concessionaire on account of delays and other issues

The National Highways Authority of India (NHAI) has settled an arbitration claim worth about Rs 650 crore with Infrastructure Leasing & Financial Services (IL&FS) for nearly Rs 200 crore through a conciliation process. 

The NHAI decided to settle the claim for less than 70 per cent of the Rs 800-crore demanded by the company through an arbitration process, said an official. The NHAI had, in turn, asked for Rs 150 crore from the company, which worked out to a net outgo of Rs 650 crore.

This comes amid reports of the NHAI deciding to settle stuck projects through conciliation instead of taking