RailTel Wins ₹13 Cr Arbitration Award Against Rajcomp Info Services Ltd
RailTel has received a favorable arbitration award against Rajcomp Info Services Ltd (RISL). The award grants RailTel ₹13 crore out of its ₹94 crore claim. RISL will pay RailTel ₹8 crore differential amount plus interest and GST, after a counter-claim of ₹5 crore was awarded to RISL.
While the award is positive, the amount awarded is a fraction of the original claim and the counter-claim also resulted in a payment to the other party. The net positive impact is ₹8 crore plus interest and GST.
The company has won a significant portion of its arbitration claim, which is a positive financial development.
RailTel Corporation of India Limited has provided an update on a pending arbitration case between RailTel and M/s Rajcomp Info Services Ltd (RISL). The Arbitral Tribunal has passed an Arbitration Award in this matter. Out of RailTel's claim amount of ₹94 crore, the Arbitrator has awarded ₹13 crore in favor of RailTel.
Furthermore, concerning RISL's counter-claim amount of ₹313 crore, the Arbitrator has awarded ₹5 crore in favor of RISL. Consequently, RISL will be required to pay a differential amount of ₹8 crore (₹13 crore - ₹5 crore) to RailTel, along with applicable interest and GST.
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Railtel Corporation Of India 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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See the model portfoliosA plain-language summary of a public exchange filing by Railtel Corporation Of India Limited. Read the original for the full detail.