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Sunday , 16 June 2024

New NHAI panel resolves 124 project disputes

A dispute resolution panel, set up by the NHAI, has resolved 124 disputes and claims related to NHAI projects. The panel was able to resolve disputes for a cost that was just one tenth of the amount involved in the disputes, thereby saving in litigation costs and time for both NHAI and the concessionaires. Many of these disputes were going on for over a decade before various arbitration tribunals. The cumulative amount settled amicably with highway contractors was roughly one-third of what was awarded by the tribunals. Out of total disputes of over Rs 20,000cr, the committee succeeded in resolving pending claims and financial disputes worth Rs 9,395cr for just Rs 910cr. The NHAI is now trying to bring a highway developers body – Society for Affordable Resolution of Disputes – on board on similar lines to resolve public-private partnership disputes arising in the future.

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