Reliance Infrastructure Ltd. said today that it has won a Rs 200-crore arbitration award against the National Highway Authority of India (NHAI). The company said in a BSE filing, “A three-member Arbitration Tribunal in its unanimous award on Aug. 31, 2018, has asked NHAI to pay Rs 150 crore by Nov. 29, 2018, to Reliance Infrastructure. NHAI will have to pay interest at the rate of 12 percent per annum on the amount if they do not pay Rs.150 crore by the deadline.”

The company also added that the tribunal has also granted Reliance Infrastructure a compensation at the rate of 13.5 percent of actual revenue for the loss of revenue suffered due to change in location of toll plaza.

Reliance Infrastructure said in a statement that the need for arbitration raised due to extended delay by NHAI in providing land to the TD Toll Road Pvt Ltd, a wholly-owned subsidiary of Reliance Infrastructure.

The contention of TD Toll Road that the project was delayed resulting in cost over-run during construction and location of toll plaza resulting in loss of revenue was upheld by the tribunal. TD Toll Road has designed, built and are operating 87 km long 4-lane National Highway (NH 45) road connecting Trichy and Dindigul in Tamil Nadu.

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