MBL Infrastructure Limited — Updates, 16-12-2024: Press Release

The Learned Arbitral Tribunal has issued an award favoring MBL Infrastructure Ltd. regarding the 'Improvement and Strengthening of Roads in the District of Udham Singh Nagar (Package No. C-2)' project, totaling Rs 68.75 crores, with additional interest at 12% per annum applicable if payment is not made within 90 days. So far, MBL has secured arbitration awards amounting to Rs 245.75 crores from claims exceeding Rs 3,000 crores and is actively pursuing outstanding receivables at various stages of negotiation or arbitration. The implementation of a Package Resolution Plan by banks, which improved the company's credit status, will enable MBL to bid for new projects aligned with its profitability strategy in the near future. This update suggests a potentially positive outlook as MBL aims to enhance its project portfolio while maintaining strong client relationships.