NHAI pays Rs 308 cr arbitral award to IRB Infra SPV in payments dispute

Amount is 75% of total award for Pathankot-Amritsar told road project, matches union cabinet guideline.

The National Highways Authority of India (NHAI), after a Delhi High Court order, has paid Rs 308 crore to IRB Pathankot Amritsar Toll Road Ltd (IRPRL), a special purpose vehicle (SPV) of IRB Infrastructure Developers, over a dispute in payment related to the Pathankot-Amritsar project.

“We deeply appreciate the steps taken by the Cabinet Committee on Economic Affairs for providing interim cashflow access to developers in clear award scenarios till a final verdict is closed,” said Virendra Mhaiskar, chairman and managing director of IRB Infra.

The amount is 75 per cent of the Rs 419 crore arbitral award owed by