HCC has been asked to reconcile the award amount within 7 days and thereafter open escrow account and submit bank guarantees (BGs) within 30 days for recovering the amount. This communication clears the way for HCC for receiving close to Rs 20 billion within 4 to 6 weeks.

The communication came in the backdrop of the Government setting into motion the process to release 75 percent of arbitration amounts against margin free guarantee in situations where awards have been given but have been contested by the concerned authorities.