Va Tech Wabag wins arbitration award against Kerala Water Authority

The Hon'ble Arbitrator has rejected the Counter Claims filed by Kerala Water Authority of Rs. 83 crore and allowed the Claims of Va Tech Wabag of return of Bank Guarantee (BG) amount of Rs. 23,24,29,700/-and release of Rs. 12,86,70,359/- along with 9% interest from the date of award i.e. 03 July 2024 till the date of realization of payment.