MBL Infrastructure Limited — Important, 16-12-2024: General Updates

The Learned Arbitral Tribunal has issued a favorable arbitration award of Rs 68.75 crore for MBL Infrastructure against the Public Works Department of Uttarakhand. This pertains to the project for the improvement and strengthening of roads in Udham Singh Nagar, Package No. C-2. In addition to the awarded amount, the company will receive interest at 12% per annum from the date of the award until payment is made, should the payment not be completed within 90 days. This development reflects positively on MBL Infrastructure’s financial position and potential cash flow, enhancing its outlook in the ongoing infrastructure projects sector.