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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.
www.business-standard.com
dt. 20.04.2024
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