Punj Lloyd gets favourable arbitration award for Heera Redevelopment Project

Punj Lloyd announced that the Arbitration Tribunal in the matter of Punj Lloyd & Anr. v/s Oil & Natural Gas Corporation in respect of Heera Redevelopment Project, has given an award in favor of Punj Lloyd for an amount of USD 4,985,866.37 with interest @ 9%p.a. from due date till the date of payment / realization along with a further amount of USD 17,500.00 and USD 7,919,661.00. The amount of USD 7,919,661.00 has to be paid within four months from the award otherwise interest @ 12% p.a. will be payable till the payment or realization thereof.

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