Afcons JV Wins ₹231.94 Crore Arbitration Award Against KMRC

Afcons Infrastructure Ltd on Tuesday said its joint venture has won a ₹231.94-crore unanimous arbitration award from the Arbitral Tribunal in a years-long dispute with the Kolkata Metro Rail Corporation Ltd (KMRC).

Award Details and Financial Impact

The order was made by the Arbitral Tribunal under the provisions of the Arbitration and Conciliation Act, 1996 (as amended), and directed KMRC to make the payment within 90 days, the company said in a stock exchange filing. Failing which, an extra 11% per annum. is applicable to the total outstanding principal and interest.

Key Facts from the Arbitration:

The company emphasized that this development will significantly strengthen its financial position.

About the JV and the Dispute

Transtonnelstroy Afcons Joint Venture is an association of persons (AOP) in which Afcons is a key partner. The dispute pertains to contractual claims linked to infrastructure work carried out for KMRC under the metro rail project in Kolkata.

Management Statement

Afcons, in a communication to the exchanges, said the award further proves its commitment to contractual integrity and sound practice in the timely delivery of public infrastructure. “We believe this arbitration award should improve liquidity and aid the project financing/balance sheet of Afcons Infrastructure in FY26.”

Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. The content is based on highly reliable resources. Still if there is any error it is deeply regretted. Write to us for getting any error corrected.

REF: https://nsearchives.nseindia.com/corporate/AFCONS_26052025185405_Afcons_Intimation_of_Receipt_of_Arbitratio_Award_dated26052025.pdf