Akash Infra-Projects discloses a favorable Commercial Court order upholding a prior arbitral award in its dispute with Ahmedabad Municipal Corporation.
The court rejected AMC's plea to quash the awards and also rejected the contractor's plea for enhanced compensation, confirming the original arbitrator's decision.
The company states there are no expected financial implications from this order as all compensation pleas were rejected.
This is a regulatory filing under SEBI LODR Regulation 30 concerning a material legal proceeding.