Arbitral Tribunal Favors PNC Infratech By Awarding Rs.485 Crore Against NHAI
The company stated that its financial impact would be determined once the amount was realized
Prestigious infrastructure firm, PNC Infratech Ltd, has secured an arbitration award of Rs.485.28 crore in a long-standing dispute with the National Highways Authority of India (NHAI).
The matter pertains to an Engineering, Procurement, and Construction (EPC) contract for the ‘Construction of Balance Work of New Four Lane Agra Bypass’ project, connecting National Highway-2 and National Highway-3 in Uttar Pradesh.
An arbitral tribunal comprising former Chief Justice of India, Dipak Misra and former Supreme Court judges Justice K.S.P. Radhakrishnan and Justice G.S. Singhvi, adjudicated the dispute.
After hearing PNC Infratech’s claims and NHAI’s counterclaims, the tribunal ruled in favor of the former, awarding it Rs.485.28 crores, along with 12 percent annual interest from 17 May 2025, until the date of realization.
It dismissed NHAI’s Rs.38.52 crore plus interest, counterclaims.
When arbitration proceedings began in June 2019, PNC filed Rs.661.51 crore claim (including interest up to 24 August 2024).