High Court Partially Sets Aside Arbitral Award Against Kalpataru’s Joint Venture in NHAI Dispute
The arbitration outcome concerning Kurukshetra Expressway Private Limited (KEPL), a joint venture of Kalpataru Projects International Limited, and the National Highways Authority of India (NHAI) has been partially revised by the Hon'ble High Court. The court’s order, dated July 28, 2026, resulted in one specific claim being set aside while other aspects of the previous awards remain upheld.KEPL had received arbitral awards against NHAI relating to a road project terminated by KEPL in 2021. These awards covered various payments, including the Termination Payment, following a challenge filed by NHAI under Section 34 of the Arbitration and Conciliation Act, 1996.
According to the recent order from the Hon'ble High Court, the claim pertaining to the Termination Payment and accrued interest thereon was partially set aside. However, the awards concerning all other claims remain upheld.
KEPL has received this court order dated July 28, 2026. Based on legal advice, KEPL maintains a strong case regarding the claim that was set aside by the Court. The company is taking appropriate legal steps and intends to file an appeal against the ruling.
The dispute involves KEPL, which holds a 49.57% joint venture stake in the project, versus NHAI concerning the terminated road project in Haryana.
KPIL Stock Price Movement
Shares of Kalpataru Projects International Limited are surging as of 12:46 PM, trading at ₹1295 after gaining 2.33% or ₹29.50. The stock saw active buying in the live market, with a volume of 51,015 shares traded during this session.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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