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Hindustan Aeronautics has received a notice from the International Court of Arbitration for arbitration with RUAG Aerospace Services GMBH. The company said it has initiated necessary action for the arbitration. The amount in dispute partially quantified by the opponent party is $21,872,500 (about ₹160 crore) against alleged damages for breach of agreement regarding supply of structural parts for production of Dornier-228 by HAL. Shareholders will closely monitor the development.
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