According to KRIDE, the tribunal upheld its position that L&T had defaulted on the execution of the two corridor works and subsequently ‘terminated the agreements unilaterally and illegally, not as per the terms and conditions of the contracts.’ | Photo Credit: File Photo The Rail Infrastructure Development Company (Karnataka) Limited (KRIDE) has invoked and encashed performance bank guarantees worth ₹57 crore issued on behalf of Larsen and Toubro. This follows the Arbitration Tribunal’s decision rejecting L&T’s plea to restrain the move, KRIDE said. KRIDE stated that the guarantees, issued by YES Bank, pertained to civil works under Corridor 2 and Corridor 4 of the Bengaluru Suburban Rail Project (BSRP). The tribunal’s decision, KRIDE claimed, allowed it to proceed with encashing the guarantees, which it completed on April 4. Published – April 05, 2026 06:45 pm IST Share this: Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Facebook (Opens in new window) Facebook Click to share on Threads (Opens in new window) Threads Click to share on X (Opens in new window) X Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to email a link to a friend (Opens in new window) Email More Click to print (Opens in new window) Print Click to share on Reddit (Opens in new window) Reddit Click to share on Tumblr (Opens in new window) Tumblr Click to share on Pocket (Opens in new window) Pocket Click to share on Mastodon (Opens in new window) Mastodon Click to share on Nextdoor (Opens in new window) Nextdoor Click to share on Bluesky (Opens in new window) Bluesky Like this:Like Loading... Post navigation Need for women becoming self-reliant seen Power supply to be cut in certain areas of Mangaluru and Udupi on April 6, 7