NSE/BSE Codes: BSE: 509496, NSE: CEMPRO

Summary of Key Information:

Nature of Event / Disclosure:

Disclosure of an arbitral award pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding a contractual dispute.

Involved Parties / Authorities:

  • Opposite Party: Delhi Metro Rail Corporation Limited (DMRCL)
  • Claimant: ITD Cem Joint Venture (a JV with 49% ownership by Cemindia Projects Limited)
  • Adjudicating Authority: A 3 Member Arbitration Tribunal (AT)
  • Regulator: Securities and Exchange Board of India (SEBI)

Date / Timeline of Event:

  • Contract Date: 14th January 2013
  • Award Publication Date: 1st August 2026
  • Disclosure Date to Exchange: 2nd August 2026

Brief Description of Outcome / Dispute:

The dispute involved contractual claims and counter-claims between the ITD Cem JV and DMRCL. The claims were related to additional costs due to prolongation of work, some uncertified work, and recoveries. The matter was referred to arbitration.

The Arbitral Tribunal published its award, which was in favor of the JV. The JV's claim of Rs 322.22 Crore + Interest + GST + Cost was partially awarded. DMRCL's counter-claim was entirely rejected.

Impact of Outcome:

Financial Impact:
  • The Arbitral Tribunal awarded the JV a sum of Rs 212.54 Crore + GST.
  • The Tribunal also awarded Rs 0.87 Crore as Cost to the JV.
  • The award includes post-award interest (quantum not specified in the disclosure).
  • DMRCL's counter-claim of Rs 22.19 Crore + Interest + GST + Cost was entirely rejected.
  • The disclosure states that the precise financial impact on Cemindia Projects Limited can only be determined upon the actual receipt of the amount under the award. The company's share of the award would be 49% of the net amount received by the JV.
Operational / Business / Strategic Impact:

No material disclosures in this section.

Other Implications:

No material disclosures in this section.

Next Steps / Required Actions:

The next step is for the JV to receive the awarded amount of Rs 212.54 Crore + GST + Rs 0.87 Crore as Cost + post-award interest from Delhi Metro Rail Corporation Limited.