Sunstar Realty Development has won the arbitration case worth Rs 2.50 crore through an arbitration award pronounced by High Court.
The company has been awarded a contract by Somiz Food Products (formerly known as Intimate Infra Projects) (SFPPL) to construct a commercial godown for a total amount of Rs 10 crore and received an advance of Rs 2.50 crore. During the process, SFPPL failed to pay further installments to the company. Accordingly, the company forfeited earnest money of Rs 2.50 crore and learned Arbitrator pronounced its decision in favor of the company providing legal and rightful claim of Rs 2.50 crore.
Sunstar Realty Development is an upcoming real estate and infra company is primarily engaged in business of executing contracts in the segment of construction and infrastructure.
