IRB Infrastructure Developers has informed that pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay ‘75% of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award’; IRB Ahmedabad Vadodara Super Express Tollway - Wholly owned subsidiary of the Company (IRBAV), has received from NHAI Rs 20.55 Crore against the Bank Guarantee submitted by IRBAV as part of 75% of the Arbitral Award amount pronounced by the Arbitral Tribunal.
The above information is a part of company’s filings submitted to BSE.
