NHAI settles arbitration claims worth over Rs 13,000 crore through conciliation
New Delhi: The National highways authority of India (NHAI) has settled arbitration claims worth over Rs 13,000 crore through conciliation since FY 18 as it moves aggressively to reduce its liabilities through out-of-court settlement.
NHAI has constituted three conciliation committees of independent experts (CCIE) of three members each, which are headed by retired officials from the judiciary, senior experts from public administration, finance and the private sector.
“Till Now, 108 cases have been referred to CCIE and claims worth Rs, 13,349 crore have been successfully settled for an amount of Rs. 3,743 crore,” the ministry of road transport and highways said on Wednesday.
