Noida Toll Bridge Company informs about company updates

30 Mar 2018

Noida Toll Bridge Company has informed that the 2nd hearing of the Arbitral Tribunal was held on March 27, 2018 and a summary of the proceedings as received from their Legal Counsel on March 29, 2018. The Arbitral Tribunal noted the statement of claim filed by Noida Toll Bridge Company Ltd (NTBCL) against New Okhla Industrial Development Authority (NOIDA) and noted the Statement of Defence filed by NOIDA along with their counter claim against NTBCL. The Tribunal has provided time to NTBCL to file its Reply to the Statement of Defence and the counter claim filed by NOIDA. The Arbitral Tribunal has allowed the Impleadment application of IL&FS in the arbitration proceeding and taken the IL&FS statement of claim against NOIDA and provided time to NOIDA to file its statement of defence in respect thereof. The Tribunal has set May 19, 2018 as the next date of hearing and will consider various procedural and miscellaneous matters including determining whether to undertake both NTBCLs claim and IL&FSs claim in a common proceeding or treat them as two separate arbitrations being undertaken by the same Tribunal.

The above information is a part of company’s filings submitted to BSE.

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