NTPC announced that in a contractual dispute between NTPC and Jindal ITF (JITF), an Arbitral Award was pronounced on 27 January 2019 for the disputes arising out of one of the infrastructure project of NTPC for transportation of coal through waterways for NTPC's Farakka STPP, wherein Claims of Rs.1891 crore (approx.) plus interest were allowed against NTPC.
NTPC challenged the Arbitral Award before Hon'ble High Court of Delhi under Section 34 of The Arbitration & Conciliation Act, 1996. The Hon'ble High Court in the judgement pronounced on 30 January 2025 and uploaded on the High Court's website on 1 February 2025, has set aside the aforesaid Arbitral Award in totality observing that the Arbitral Award falls into the category of perverse and patently illegal.
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