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Nagarjuna Fertilizers and Chemicals informs about company updates

29 Nov 2016 Evaluate

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.

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