Govt. gives Rs.980-cr under arbitration scheme

    National Highways Authority of India (NHAI)
    The Union government has released Rs.980 crore under the arbitration scheme in the last six months ever since the scheme was introduced, India Ratings and Research disclosed recently, adding that since the introduction of the arbitration scheme for funds worth Rs.9.8 billion have been released compared to Rs.26.3 billion, statement made to National Highways Authority of India (NHAI). The pace of release of arbitration claims for infrastructure developers has gained limited traction, due to the inability of road developers and project building companies to provide bank guarantees. In view of the financial difficulties faced by many developers in the sector, the agency believes that banks are wary of exposure in bank guarantees, without adequate margins. The government‘s initiative to release 75% of locked amount in arbitration awards thus had a limited impact on the liquidity of developers except a few road developers.
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