Claims of INR 700 crore allowed against NCC by arbitration tribunal
Cyril Amarchand Mangaldas advised and represented SEIL Energy Private Limited (SEIL) on arbitration proceeding initiated against it by NCC Limited (NCC), on disputes arising out of EPC contracts aggregating to INR 2557 crore. In a significant order, the arbitral tribunal allowed claims of INR 700 crore against NCC, while accepting claims of INR 101 crore against SEIL. The orders that analyzed and addressed significant legal issues pertaining to extension of time claim, imposition of liquidated damages in alleged case of concurrent delays by both employer and contractor.
The Disputes Practice of Cyril Amarchand Mangaldas advised on the matter. The matter was led by Kapil Arora, Partner; with support from Manjula Baxla, Principal Associate; Aditi Tambi, Principal Associate; Palak Nagar, Senior Associate; Prashasthi Bhat, Associate.
Arbitration was initiated against SEIL by its contractor NCC, on account of disputes arising out of EPC contracts for construction of a 1320 MW thermal power plant in Nellore, Andhra Pradesh. NCC had filed claims for total value of about INR 1557 crore, out of which claim for about INR 1456 crores was rejected by the Arbitration Tribunal, and an award of INR 101 Crores was passed in favour of NCC, with interest and cost. SEIL had filed counter-claims to the tune of INR 1000 crores + USD 9.04 million, out of which counter-claims to the extent of about INR 700 crore was allowed by the arbitration tribunal
The date of the award was 14th September 2023.
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About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
