STOCK IN FOCUS: NACL IND
The Delhi High Court ruled in favor of NACL Industries, dismissing The Oriental Insurance Co.'s appeal against the arbitration award related to the company's insurance claim.
The case stemmed from a 2012 fire at the Srikakulam plant, involving deductions, Loss of Profit (LOP), and delayed settlement interest.
The Court ordered the insurance company to deposit ₹16.49 crore (MD claim) and ₹12.77 crore (LOP claim), which were released to the company in FY 2021-22 against bank guarantees.
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