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S&P
BSE SENSEX
74,339.44
+486.50
+0.66 %
Corporate Announcement
Security Code
500378
Company
Jindal Saw Ltd
Exchange Received Time
31/01/2019 15:00:55
Exchange Disseminated Time
31/01/2019 15:01:02
Time Taken
00:00:07
Disclosure Of Information Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015. |
1/31/2019 3:00:56 PM
This has reference to the arbitration proceedings between Jindal ITF Limited, a subsidiary of the Company and NTPC Limited with respect to the Inland Water Coal Transportation Business. We have kept the Stock Exchanges informed from time to time on the developments and also made necessary disclosures in Notes to the Accounts while announcing Quarterly Financial Results.
We wish to inform you that the Arbitral Tribunal has published and pronounced the final award in the above arbitration. The award has gone in favour of Jindal ITF Limited. The aggregate amount of various claims under the award adds up to in excess of Rs.2000 Crores plus interest as per award including the earlier interim awards of Rs.158.50 crores and Rs.197.81 crores.
It is also to be noted that NTPC Limited has the right to recourse against this award as per the provisions of Arbitration & Conciliation Act, 1996.
All above is for your information and noting.
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