HCC currently has over Rs 3,200 crore tied up in arbitration, and with the new norm, the company can get about Rs 2,400 crore (75 percent of Rs 3,200 crore) freed immediately. The company is also confident that within the next 12 months, additional claims worth Rs 5,000 crore would be settled.
Reliance Infrastructure ltd., which has Rs 14,000 crore under various stages of arbitration for various projects, called this a bold and positive move which will help revive stalled projects which suffer due to long settlement periods, the company said in a press release.
SPML Infra Ltd. currently has a standalone debt of Rs 540 crore and around Rs 500 crore are stuck in arbitration. The company said in a stock exchange filing that the governme…
Read the full article at: http://www.bloombergquint.com/business/2016/09/06/new-arbitration-guidelines-can-help-infrastructure-companies-reduce-debt
