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Chinese firm upset over losing Rs 470 crore contract sues Indian Railways

Shortpedia

Content Team
Image Credit: shortpedia

Indian Railways had earlier pulled Chinese engineering firm out of a Rs 470-crore signaling contract and now the firm has dragged Railways to court against the move despite India served it the formal termination letter on Friday. The Chinese company has approached the Delhi High Court to prevent the DFCCIL from encashing its bank guarantee. However, Indian Railways has made it clear that they don't want to keep the contract.