{"id":264436,"date":"2019-03-15T06:30:38","date_gmt":"2019-03-15T06:30:38","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=264436"},"modified":"2019-03-15T06:30:38","modified_gmt":"2019-03-15T06:30:38","slug":"punj-lloyds-claim-against-ongc-dismissed","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/punj-lloyds-claim-against-ongc-dismissed\/","title":{"rendered":"Punj Lloyd\u2019s claim against ONGC dismissed"},"content":{"rendered":"<p>Mumbai: An arbitration tribunal rejected a Rs 1,320 crores claim filed by the engineering, procurement and construction (EPC) contractor Punj LloydNSE 4.00 % against Oil &amp; Natural Gas Corporation (ONGCNSE 0.60 %) and also the latter\u2019s counterclaim against Punj Lloyd for Rs 1,153 crore for loss of production due to delay. <\/p>\n<p>Punj LloydNSE -4.84 % had approached the arbitration tribunal after ONGC refused to pay the company the agreed amount due to alleged delay in the execution of the project. The company had claimed that ONGC has illegally, unreasonably and arbitrarily refused to pay all amounts or compensate the Punj Lloyd for changes directed by the respondent to the \u2018Concept Design\u2019 initially proposed by the ONGC in its bid documents. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: An arbitration tribunal rejected a Rs 1,320 crores claim filed by the engineering, procurement and construction (EPC) contractor Punj LloydNSE 4.00 % against Oil &amp; Natural Gas Corporation (ONGCNSE 0.60 %) and also the latter\u2019s counterclaim against Punj Lloyd for Rs 1,153 crore for loss of production due to delay. Punj LloydNSE -4.84 % had approached the arbitration tribunal after ONGC refused to pay the company the agreed amount due to alleged delay in the execution of the project. The company had claimed that ONGC has illegally, unreasonably and arbitrarily refused to pay all amounts or compensate the Punj [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-264436","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/264436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=264436"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/264436\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=264436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=264436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=264436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}