Arbitration Award Details
Parties Involved
- Claimant: PNC Infratech Limited
- Respondent: Public Works Department, Government of Uttar Pradesh (UP PWD)
Arbitral Tribunal Composition
The arbitration was adjudicated by a three-member Arbitral Tribunal comprising:
- Justice Mr. G. S. Singhvi (Former Judge, Supreme Court of India) - Presiding Arbitrator
- Justice Dr. B. S. Chauhan (Former Judge, Supreme Court of India) - Co-Arbitrator
- Justice Mr. S. Ravindra Bhat (Former Judge, Supreme Court of India) - Co-Arbitrator
Project Background
The dispute arose from an EPC project executed by the Company: "Rehabilitation and upgradation of Sonauli to Gorakhpur Section (Km. 0+000 to Km. 80+000) of NH 29E in Uttar Pradesh to two lane with paved shoulder on EPC mode under NHDP Phase - IV" for Public Works Department, Government of Uttar Pradesh.
Award Outcome
Through its majority award published on July 31, 2026, the Tribunal awarded an amount of ₹244,09,35,262 (Rupees Two Hundred Forty-Four Crore Nine Lakh Thirty-Five Thousand Two Hundred Sixty-Two Only) to PNC Infratech Limited.
Payment Terms
The Respondent (UP PWD) must pay the awarded amount within 6 months from the date of award (by January 31, 2027). If the awarded amount is not paid within 6 months, future interest @ 9% per annum shall be paid along with the awarded amount to the Company.
Financial Implications
The disclosure states that "Successful realization of the above arbitration award in the future will have a positive impact on the Company's financials." The exact financial impact is contingent upon actual realization of the award amount.