Enviro Infra Engineers Wins Arbitral Award in Key CETP Litigation Against HSIIDC
Enviro Infra Engineers Limited (EIEL) has been awarded an arbitral award totaling approximately ₹ 8.65 crore, including interest and litigation costs. The award settles two arbitration cases initiated in 2022 against the Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC).The dispute involved the recovery of dues pertaining to two major Common Effluent Treatment Plant (CETP) projects executed in the state of Haryana. The arbitration proceedings were adjudicated under the Delhi International Arbitration Centre (DIAC).
The projects at the heart of the litigation included:
1. Construction, commissioning, and operation & maintenance of a 10.5 MLD Common Effluent Treatment Plant (CETP) at Faridabad, covering a period of 120 months.
2. Construction, commissioning, and operation & maintenance of a 10 MLD Common Effluent Treatment Plant (CETP) at Rohtak, also for a period of 120 months.
The arbitral award was passed by the Learned Sole Arbitrator in favor of Enviro Infra Engineers Limited for both matters. The award determined the rights and liabilities of the parties, concluding the arbitral proceedings.
Financial Breakdown of the Award
The total awarded amount comprises specific project recoveries, mandated interest, and operational legal costs.| Project | Amount Awarded | Details |
|---|---|---|
| Faridabad Project | ₹ 4,75,07,724 | Specific recovery for the 10.5 MLD CETP |
| Rohtak Project | ₹ 3,34,68,894 | Specific recovery for the 10 MLD CETP |
In addition to the principal amounts, the company is entitled to interest at a rate of 16% per annum simple, calculated from January 1, 2026, on the principal sums of VAT and Service Tax until full discharge.
The award also stipulates that HSIIDC is liable to pay the entire costs of the two references, as well as legal costs assessed at ₹ 14 lakh in each reference.
The arbitration proceedings have concluded, marking a resolution in the matter of dues owed by the Haryana State Industrial & Infrastructure Development Corporation Limited.
EIEL Stock Price Movement
Shares of Enviro Infra Engineers Limited are slipping by 1.24% in live trading, as of 1:24 PM, currently at ₹208.89. Trading volume stands at 708,464 shares, with the stock having traded within an intraday range between ₹206.59 and ₹214.85.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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