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Breather for stranded road projects

HCC to benefit most from new arbitration mechanism; so will Gammon Infra, IDFC, NCC, Punj

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Toreinforceitsinterestinrevivinginfrastructurecompanies,particularlyintheroadssector,thegovernmenthassimplifiedthedisputeresolutionmechanism.Underthenewnorms,governmentagenciesinconsultationwiththecontractororconcessionaireconcernedcantransferthearbitrationinitiatedunderpre-amendedArbitrationActtoamendedArbitrationAct,whichmandatesthetribunalforaspeedyclosureofmatters(within12months). ThenewrulesintroducedonWednesdayalsorequiregovernmentagenciestodeposit75percentofthearbitrationawardamountinanescrow ...