Summary of Key Information:
Disclosing Entity: Akash Infra-Projects Limited
Nature of Transaction / Event: Disclosure of legal proceedings - Filing of Commercial Execution Petition for enforcement of arbitration award.
Date of Transaction / Event: 08/06/2026 (Date of filing the petition)
Details of Litigation:
Name of the Counter Party: Ahmedabad Municipal Corporation, Ahmedabad
Court / Tribunal where litigation is filed: The Commercial Court, Ahmedabad
Brief details of dispute/litigation: The Company has filed a petition before the Commercial Court praying for getting the claim amount along with interest till date as per Arbitration Award dated 31.01.2022 from Ahmedabad Municipal Corporation.
Quantum of Claim: The aggregate amount of claims with interest for different claims aggregates to Rs. 117.84 Crore.
Financial Implications: The company states there will not be any negative financial impact on the company.
Regulatory References:
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Reference to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023
- Follow-up to earlier submission made on 07/05/2026
Legal Basis: Petition filed under section 36 of the Arbitration And Conciliation Act, 1996
Company Signatory: Yoginkumar Patel, Managing Director
Analyst Notes:
This is a factual disclosure of legal proceedings initiated by the company to enforce a previously awarded arbitration decision. The company has quantified its claim at ₹117.84 crore and explicitly states no negative financial impact is anticipated from this litigation.