Saturday , October 16 2021

SPML Infra’s arm wins Rs 191 crore Interim Relief under Arbitration Proceedings

SPML Infra’s subsidiary — Bhilwara Jaipur Toll Road has received Rs 191 crore Interim Relief under Arbitration proceedings against State of Rajasthan. The 212 km Bhilwara-Jaipur Toll Road was developed by the subsidiary company but with effect from April 01, 2018, Government of Rajasthan had exempted private vehicles to pay toll in 0-212 km toll road (state highway) from Jaipur to Bhilwara.

Bhilwara Jaipur Toll Road had sought an interim relief under Section 17 of Arbitration Act to give award in the way that bank debt on state highway is taken over or settled by the State Government and the toll road is taken back by the State Government for onward operation and maintenance. The arbitrator after due hearings under section 17 of Arbitration Act in Case No. 20/2019 has issued an interim order of award on 30th October, 2019 directing the State Government to deposit Rs 191 crore in bank escrow account and take possession of the toll road.

SPML Infra is a single source solution provider for various multi-disciplinary engineering and infrastructure services from conceptualization to maintenance in water, power, environment and infrastructure projects.

Please share this news
<div id="taboola-below-article-thumbnails"></div>
<script type="text/javascript">
  window._taboola = window._taboola || [];
    mode: 'thumbnails-a',
    container: 'taboola-below-article-thumbnails',
    placement: 'Below Article Thumbnails',
    target_type: 'mix'