IRCON International is set to challenge a recent arbitration award amounting to ₹147.14 crore in the Delhi High Court. This follows a dispute over a work package where a majority tribunal declared the award. A minority tribunal had previously issued a dissent opinion awarding ₹23.64 crore. The arbitration process is now complete, and IRCON plans to contest the award to protect its financial interests.
IRCON International to Challenge Arbitration Award
IRCON International Limited has announced its intention to challenge a significant arbitration award before the High Court of Delhi. The award, declared by a majority tribunal on June 29, 2026, is for an amount of ₹147,14,48,522 (approximately ₹147.14 crore).
Background of the Dispute
The dispute originated from a work package identified as T-74R-A. AFCON’s had raised a dispute in this matter on February 22, 2023, with a claimed amount of ₹359.72 crore. This was previously reported by the company. Subsequently, the majority tribunal issued an award of ₹147.14 crore on June 29, 2026.
Dissenting Opinion and Next Steps
Notably, on September 23, 2026, a minority tribunal issued a dissenting opinion, awarding ₹23,64,20,885 (approximately ₹23.64 crore) against the same claim value of ₹359.72 crore. With the arbitration process now concluded, IRCON International has decided to contest the majority award in the High Court of Delhi to uphold its legal rights and financial position.
Source: BSE
