VA Tech Wabag to challenge Arbitrator’s decision in TTPL dispute

WABAG believes that it is a fit case for challenging the award passed by the sole arbitrator

In the dispute between Travancore Titanium Products Limited (TTPL) and VA Tech Wabag Limited (WABAG), the sole arbitrator P. R. Ramachandra Menon passed an award in favor of TTPL in Kochi, Kerala. The sole arbitrator has allowed the claims filed by TTPL for an amount of Rs. 12,66,83,750 along with 12% interest from the date of award till the date of realization of payment.

Based on legal opinion, WABAG, prima facie, believes that it is a fit case for challenging the award passed by the sole arbitrator and shall take necessary steps to file an Appeal challenging the impugned award within the statutory period available under the Arbitration and Conciliation Act, 1996, before the appropriate appellate jurisdiction.