India, May 12 -- The Government of India has issued a release:
Safeguarding public funds in National Highway projects, NHAI has successfully defended two major arbitration cases related to the Panipat-Jalandhar section of NH-44. The disputes involved high-value claims raised by concessionaires against NHAI in connection with the execution and operation of the National Highway project. The two arbitration matters together involved claims exceeding Rs. 8,375 crores towards alleged termination payments, compensation for loss of toll revenue, prolongation costs, escalation, extension of the concession period, damages arising from project delays and other associated financial claims.
After extensive hearings and detailed examination of contrac...