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The recent Delhi High Court judgment in M/s Oasis Projects Ltd v. The Managing Director, NHIDCL is a welcome precedent for arbitration as a dispute resolution mechanism in India.
The Road Transport and Highways Ministry in January this year had constituted a committee to examine all arbitral awards or court orders where the settlement amount is more than Rs 100 crore.
"Our (state-owned NHAI's) current toll income is Rs 40,000 crore. It will rise to Rs 1.40 lakh crore in the next three years," Union minister Nitin Gadkari said.