Bharat Road Network Ltd

Please refer to our letter No. BRNL/CS/2019-2020/01 dated 1st April 2019 wherein the Company had intimated that Orissa Steel Expressway Private Limited (OSEPL) one of the subsidiaries of the Company has won an Arbitration Award of Rs. 322.77 crores in the matter of Arbitration Proceedings between OSEPL and National Highway Authority of India (NHAI).In this regard we would like to intimate that post the award NHAI had filed an application under Section 34 of the Arbitration & Conciliation Act 1996 before the Honble High Court of Delhi on 1st July 2019 for setting aside of the said award.After a series of arguments by counsels of both NHAI & OSEPL on various dates the Honble High Court of Delhi was pleased to pronounce its judgement on 26th May 2023 wherein theapplication filed by NHAI under Section 34 was dismissed with no cost.This is for your information and record.