New Delhi, xx August 2024: S&A Law Offices successfully represented Kurukshetra Expressway Private Limited (KEPL) (a group company of Kalpataru Projects India Limited) against National Highways Authority of India (NHAI) to win an Award of more than INR 1000 Crores.
In the case at hand KEPL entered into a Concession Agreement with NHAI regarding four landing of Rohtak Bawal section of NH-71 on DBFOT basis. Due to farmer protests, KEPL was constrained to terminate the Concession Agreement.
However, as NHAI neglected to pay the Termination Payment within the stipulated time as provided in the Concession Agreement, KEPL was constrained to institute an Arbitration against NHAI seeking Termination Payment and damages on account of COVID-19, farmer protests, and insurance premium payment.
In a landmark Award, the Tribunal has held that NHAI is liable to pay more than INR 1000 Crores to KEPL on account of Termination Payment, COVID-19, farmer protest, and insurance premium-related claims of KEPL. The Tribunal has also awarded interest @ 9% p.a.
S&A Law Office represented KEPL before the Tribunal and Mr Manoj K Singh, Advocate argued the matter on behalf of KEPL.
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