Reliance Infra Files ₹13,400-crore Claim in Power Deal with Adani – EQ Mag Pro
0
0
Reliance cited a breach in the terms of a December 2017 agreement, and filed its statement of claim before the Mumbai Centre for International Arbitration
Reliance Infrastructure Ltd. said it filed an arbitration claim of Rs 13,400 crore in relation to a deal to sell its Mumbai power-distribution business to Adani Transmission Ltd.
Reliance Infrastructure cited a breach in the terms of a December 2017 agreement, and filed its statement of claim before the Mumbai Centre for International Arbitration, according to a stock exchange filing. It did not elaborate on the dispute.
“The financial implication cannot be ascertained and is contingent upon the final outcome of arbitration and subsequent legal challenges,” Reliance said.
Calls to Adani Transmission’s main line went unanswered outside of regular business hours on Sunday, and there was no immediate reply to an email seeking comment.
Related posts:
- CONQUEST Completes the Financing of Its Sustainable Infrastructure Portfolio
- Cabinet approves infusion of Rs.1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA) – EQ Mag Pro
- Canada, Germany sign deal to start hydrogen shipments by 2025 – EQ Mag Pro
- STEAG Buys a PV Monitoring Start-up Solytic – EQ Mag Pro