KPIL JV's Appeal Against Arbitral Award Partially Set Aside by Delhi High Court
Kalpataru Projects International Limited's joint venture, KEPL, had its appeal against a partially set aside arbitral award upheld by the Delhi High Court on September 28, 2026. The award related to a termination payment and interest, which was set aside by an earlier order on July 28, 2026.
The outcome of the litigation, particularly the setting aside of the termination payment and interest, could have a financial impact on the company's joint venture, although the full extent is yet to be determined. The company is still pursuing legal recourse.
The company's joint venture's appeal was not successful, and a portion of the arbitral award concerning termination payment and interest was set aside by the High Court.
Kalpataru Projects International Limited (KPIL) has provided an update regarding the litigation involving its joint venture, Kurukshetra Expressway Private Limited (KEPL). The Hon'ble Delhi High Court, in its order dated 28th September 2026, upheld a previous order from 28th July 2026, which had partially set aside an arbitral award. The original arbitral award, received by KEPL against the National Highways Authority of India (NHAI), had granted various payments, including a Termination Payment. However, the High Court's order on 28th July 2026 set aside the award related to the Termination Payment and its interest, while upholding awards on other claims. KEPL, based on legal advice, believes it has a strong case to challenge the order and is pursuing appropriate legal steps, including filing a petition. The company received the latest order on 28th September 2026 at approximately 06:32 p.m.
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Kalpataru Projects International Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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