Jun 5 2017 | India Opportunities
NHAI releases INR 9.8 Billion under arbitration scheme: Ind-RA
The Central Government's initiative to release 75% of locked amount in arbitration awards so far had a limited impact on the liquidity of developers except a few road developers as per Ind-Ra latest release. Ind-Ra in its 31st May release mentioned that in the last six months since introduction of the arbitration scheme INR 9.8 billion funds have been released compared to INR 26.3 billion claims made to National Highways Authority of India.
HCC has been the biggest beneficiary receiving INR 3.80 billion (out of total claims of INR 10.8 billion), followed by IRB Infrastructure Developers Ltd - INR 2.70 billion, Shapoorji Pallonji - INR 1.41 billion, Atlanta Infra Assets Ltd - INR1.18 billion. The companies like Oriental Structure Engineers Pvt Ltd, IL&FS Engineering and construction company Ltd and Reliance Infrastructure Group have not received any funds against their claims.