In pursuance of Regulation 30(4) of SEBI (LODR) Regulations, NCC has informed that the Ld Arbitral Tribunal adjudicating the disputes that have arisen between NCC and Sembcorp Energy India (SEIL) (formerly Sembcorp Gayatri Power) has pronounced the award on 14th September 2023. In the aforesaid arbitration NCC had raised claims totalling to Rs 1,446.74 Crs and SEIL has raised Counter Claims amounting to Rs 1,073.56 Crs. The Ld Arbitral Tribunal has disallowed some of the major claims raised by the Company and has partially allowed some of the counter claims filed by SEIL and passed an award resulting in a net amount of Rs 197.85 Crs payable to NCC as against net receivables of Rs 606.23 Crs appearing in the Books. The Company is examining the award, including its impact on the financial statements and will take appropriate steps as may be advised.
The above information is a part of company’s filings submitted to BSE.
