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Punj Lloyd gets favourable arbitration award for Heera Redevelopment Project

Capital Market 

announced that the Tribunal in the matter of & Anr. v/s in respect of Heera Redevelopment Project, has given an award in favor of 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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 13 2019. 17:49 IST