Ganesh Benzoplast has informed that the Company has received an arbitration award, in its favour, in the Arbitration matter going on with Mormugao Port Trust (MPT), as disclosed under the Contingent Liabilities of the Company. In the arbitration proceedings, the Company has filed its claims, for enhanced lease rentals by MPT and delay in handing over the land to the Company, which consequently escalated the project cost and delayed the completion of the project at Goa Terminal, for which the MPT also filed its counterclaims.
The above information is a part of company’s filings submitted to BSE.
