Noida Toll Bridge Company Limited — Important, 20-12-2024: Disclosure of material issue

The Hon’ble Supreme Court has dismissed the SLP filed by Noida Toll Bridge Company Limited, finding no merit in the case against the Federation of Noida Residents’ Welfare Association. While the company respects the court's decision, it expressed disappointment with the unexpected outcome. The DND Flyway project, India's first privately funded PPP infrastructure undertaking, has played a significant role in Noida's development, providing enhanced connectivity between NOIDA and Delhi.

The exact impact of this ruling on the company's operations is yet to be determined, but it underscores the need for developers to reassess project risks in light of this judgment. The company plans to review the detailed judgment once available and explore potential options for relief in accordance with the Concession Agreement. This situation will be closely monitored as it could influence investor sentiment and future infrastructure initiatives under the PPP model.