The State government has lost a case involving huge financial implication of ₹340.97 crore, apart from an annual interest of 18% on the amount from January 2020, with the Madras High Court dismissing its appeals against orders passed by a single judge as well as an arbitral tribunal in favour of GMR Chennai Outer Ring Road Private Limited.
Second Division Bench of Justices M. Duraiswamy and Sunder Mohan rejected the appeals preferred in the name of Governor of Tamil Nadu and confirmed the orders passed by Justice N. Sathish Kumar who, in turn, had found substance in the decision taken by a three-member arbitral tribunal to award ₹340.97 crore for the losses suffered by the private firm.
