Kalpataru Projects International Limited (KPIL) announced that its subsidiary, Vindhyachal Expressway Private Limited (VEPL), has reached a settlement agreement related to an arbitration award. The award pertained to disputes arising out of a road project undertaken by VEPL. The settlement was amicably concluded under the Arbitration and Conciliation Act, 1996.
Settlement Agreement Executed
A settlement agreement has been successfully executed by Vindhyachal Expressway Private Limited (VEPL), a wholly-owned subsidiary of Kalpataru Projects International Limited (KPIL). This agreement resolves an existing arbitration award.
Details of the Resolution
The arbitration award concerned disputes originating from a road project previously managed by VEPL. All disputes have now been amicably settled under the provisions of the Arbitration and Conciliation Act, 1996.
Timing of Agreement
The intimation of entering into the Settlement Agreement was received on September 24th, 2025 at about 7:50 P.M.
Source: BSE
