 "Arbitrator rejects Sterlite Technologies' Rs 145 crore claim against BSNL")
An arbitrator has rejected broadband technology company Sterlite Technologies' claims worth Rs 145 crore against BSNL in an optical fibre cable laying project, a regulatory filing said on Friday.
Sterlite Technologies (STL) said that it is evaluating options to challenge the award of the arbitrator.
"BSNL had deducted payments to the tune of Rs 145.02 crore for trenching done at a depth lesser than 165 cms duly approved by BSNL, due to legitimate site constraints. STL filed its claims towards wrongful imposition of depth penalty by BSNL. The arbitrator has rejected STL's claims vide award dated April 18, 2024," STL said in the filing.
The Arbitration was before Justice Badar Durrez Ahmed , former Chief Justice Jammu and Kashmir High Court.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)