Nagarjuna Fertilizers and Chemicals has informed that Arbitration Awards have been passed against the Company for the Payment of $1,840,000 + interest at 5% pa with effect from September 12, 2013; Cost for Interim Final Award - GBP 465,630 + $ 43,187.79 with interest at 1% above Bank Rate with 3 monthly rests with effect from January 7, 2016 + GBP 15,000; Cost ordered by the Court at London - GBP 100,000; and Second Interim Final Award for a sum of $14,355,000. The Company is taking necessary steps to contest in relation to the Awards.
The above information is a part of company’s filings submitted to BSE.