MBL Infrastructure Ltd (MBL) has announced that the Supreme Court of India, through an order dated 4 December 2025 (uploaded on 10 December 2025), has upheld an arbitration award issued on 28 January 2020, as modified by a Delhi High Court order on 10 February 2021. The award relates to a completed project for the construction of 144 Type V and 24 Type VI houses at the Rajiv Gandhi Thermal Power Project campus in Khedar, Hisar district, for Telecommunications Consultants India Ltd (TCIL). The amount receivable under the arbitration award and court orders totals Rs 1.878 billion as of 11 December 2025, with further interest accruing at 12 per cent per annum, compounded monthly until full realisation. Business Updates MBL’s bank accounts are categorised as standard, and non-fund-based facilities — in the form of bank guarantees and letters of credit — totalling Rs 30.363 billion are available. Promoters and promoter-group entities have infused Rs 1.0829 billion, comprising Rs 851 million in fresh capital and Rs 231.9 million from existing dues. All dissenting banks have been paid their full and final settlement of Rs 496.6 million under the approved Resolution Plan, and NOCs have been issued. Payments to assenting financial creditors under the Resolution Plan have been made on schedule. Significant payments have been made to operational creditors, with regularity maintained for current obligations. Of MBL’s eight subsidiary companies, six are now debt-free. Chairman and Managing Director Anjanee Kumar Lakhotia said the company will continue pursuing outstanding contractual dues to further improve liquidity. As of 30 September 2025, MBL has total claims of Rs 321.953 billion, of which arbitration awards worth Rs 2.5932 billion have already been received and Rs 7.3641 billion have been deposited with various courts. MBL has submitted bids worth Rs 16.45 billion across projects aligned with its profitability framework and has identified tenders worth Rs 10 billion for FY 2026 and Rs 28 billion for FY 2027. With the implementation of the resolution plan for its wholly owned subsidiary, MBL (MP) Toll Road Company Ltd, most subsidiaries are now debt-free. The company is now focused on resolving the remaining two — Suratgarh Bikaner Toll Road Company Pvt Ltd and MBL Highway Development Company Ltd.