IRB Tumkur Chitradurga Tollway Receives Arbitral Award in Dispute with NHAI
IRB Tumkur Chitradurga Tollway Limited (IRBTC), a subsidiary of the IRB InvIT Fund, has received an Arbitral Award dated June 25, 2026, concerning its dispute with the National Highways Authority of India (NHAI).The arbitration addressed issues including the revocation of the deferment scheme and disputes related to the calculation of deferred premium from previous years, as well as other force majeure claims. The award dictates terms regarding these complex financial matters between the tollway and NHAI.
IRBTC has accounted for the matter internally, clarifying that the amount corresponding to the deferred premium and accrued interest has been duly recognized as a liability in the company's books of accounts.
According to the Arbitral Award, IRBTC is required to pay the deferred premium along with associated interest after it is determined by NHAI within a period of 12 weeks following the award date. Subsequently, IRBTC must complete the payment within an additional 12 weeks thereafter.
The report noted that the decision issued by the Arbitral Tribunal was not unanimous by majority. In response to the finding, IRBTC stated that it will take necessary steps to protect its rights under the Concession Agreement and prevailing law, following consultation with its legal counsel.
IRBINVIT Stock Price Movement
On Thursday, shares of IRB InvIT Fund edged higher, closing at ₹60.98 after gaining 0.66%. The stock settled with a traded volume of 585,403 shares.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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