Prakash Woollen & Synthetic Mills Ltd Receives Enhanced Compensation from NHAI for Land Acquisition
Prakash Woollen & Synthetic Mills Ltd has secured enhanced compensation amounting to Rs. 6,48,05,244/- from the National Highways Authority of India (NHAI). The payment relates to land acquired by the authority in the financial year 2019-20.The company initiated proceedings concerning the enhancement of this compensation and subsequently received a favorable order from the appellate authority, finalizing the award for the enhanced amount.
This resolution addresses the matter related to land acquisition involving NHAI. The details regarding the litigation are summarized as follows:
| Detail | Description |
|---|---|
| Opposing Party | National Highways Authority of India (NHAI) |
| Dispute Overview | Prakash Woollen & Synthetic Mills Ltd was awarded enhanced compensation for land acquisition in 2019-20. The order granted the company the specified amount. |
| Financial Implications | Not Applicable (regarding penalty or additional claims beyond the award). |
The successful outcome of the litigation provides a resolution to the matter, resulting in the receipt of the enhanced compensation by Prakash Woollen & Synthetic Mills Ltd.
Stock Price Movement
Prakash Woollen & Synthetic Mills Ltd.'s shares closed down by 2.16% at the end of trading, settling in the post-market session at ₹23.97. The stock price throughout the day moved within an intraday range, touching highs near ₹24.50 and lows around ₹22.20.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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