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Representational Image Ajit Gulabchand-led Hindustan Construction Company (HCC) has won an arbitral award worth Rs 200 crore against state-owned Ircon International. The tribunal also stated that the termination of the contract between the parties by Ircon was invalid. In addition, the New-Delhi-based tribunal also rejected Irconâs claim of Rs 419 crore. On March 31, 2021, the tribunal passed a majority award holding that the termination of the contract by Ircon was invalid. A total amount of Rs 198 crore (approximately) was awarded in favour of HCC along with post-award interest at the rate of 15.75 per cent per annum. The tribunal also awarded an amount of about Rs 1.31 crore as arbitration costs, it was stated by the law firm JSA. The JSA team comprising Dhirendra Negi, Partner and Pragya Chauhan, Principal Associate represented HCC at the tribunal. ....