Contract Background
The company had entered into a contract with Inland Waterways Authority of India, Ministry of Shipping, Government of India for execution of Engineering, Procurement and Construction of multi-modal IWT Terminal at Haldia, West Bengal.
Arbitration Initiation
Disputes arose between the company and client, leading to initiation of arbitration proceedings against the client vide letter dated 18th June 2026.
Arbitral Tribunal Constitution
The Arbitration Tribunal was constituted on 30th July 2026 comprising:
- Retd. Justice Devi Prasad Singh, Former Judge, Allahabad High Court at Lucknow - Presiding Arbitrator
- Shri Sanjay Kumar, Former Director (Operations), Kamarajar Port Ltd. - Co-Arbitrator
- Shri S. Soundararajan, Former Chief Engineer, Chennai Port - Co-Arbitrator
Details of Dispute
Opposite Party: Project Director (Jal Marg Viikas Project) Inland Waterways Authority of India (Ministry of Shipping, Government of India)
Nature of Disputes:
- Payment of certified and un-certified bills
- Claims on additional works executed
- Prolongation costs
- Interest on delayed payments
- Release of retention money
Quantum of Claims: Approximately ₹130 crore (excluding further interest, taxes, costs and subject to revised quantification/updation during the arbitration proceedings)
Financial Implications
The matter pertains to claims raised by the company (Claimant) for potential recovery against the respondent. Any financial outcome arising from the arbitration proceedings will be subject to the determination of the Arbitral Tribunal and the final arbitral award.