NELCO LTD. - Updates

Nelco Ltd has informed BSE that the arbitration proceedings were filed by the Company in the year 2006 against Jawaharlal Nehru Port Trust (JNPT) for enforcement of Companys claims. The Arbitration award was passed in favour the Company on February 06, 2012. The said award, however, was challenged by JNPT in the Honble Bombay High Court which dismissed the plea of JNPT on February 06, 2014 and awarded costs to the Company.<br/><br/>On demand for payment of said claims, JNPT has paid a sum of Rs. 13.03 crores to the Company as the decretal dues(including interest and costs).