NACL Industries has received favorable verdict on insurance claim. The company had claimed insurance pertaining to fire accident that occurred at its Srikakulam plant on June 30, 2012 and the arbitration proceedings initiated against The Oriental Insurance Company with respect to Insurance Company's deductions made in the assessment and settlement of the insurance claim, besides not considering claim for ‘Loss of Profit’ (LoP) and interest on delayed settlement.
The Arbitrator has pronounced the following two awards in favor of the Company with an aggregate amount of Rs 24 crore plus interest at 13% from the date of award till the date of payment.
NACL Industries produces a comprehensive range of pesticide Technicals and Formulations.
