HCL Infosystems, a HCL Group company, informed the stock exchanges on Sunday that it has received a ₹102.81 crore arbitration award in its favour against the Unique Identification Authority of India (UIDAI).The award covers dues, deductions, and additional costs for Managed Service Provider (MSP) services provided between August 7, 2019, and August 6, 2021. It includes 10% annual interest up...
HCL Infosystems, a HCL Group company, informed the stock exchanges on Sunday that it has received a ₹102.81 crore arbitration award in its favour against the Unique Identification Authority of India (UIDAI).
The award covers dues, deductions, and additional costs for Managed Service Provider (MSP) services provided between August 7, 2019, and August 6, 2021. It includes 10% annual interest up to the date of the award, and the same rate applies until full payment is made.
UIDAI's counterclaims of ₹72.71 crore were dismissed.
The disclosure was made in a regulatory filing to the BSE and NSE under SEBI's Listing Regulations. Both parties have the right to challenge the award in court.