Reliance Infrastructure Clinches Major Arbitration Victory

Reliance Infrastructure has secured an arbitration award of Rs 526 crore against Aravali Power Company following a wrongful contract termination in 2018. The tribunal found the termination invalid and granted RInfra consequential claims. The award will fund future growth endeavors.

Reliance Infrastructure has emerged victorious in a significant arbitration case, winning an award of Rs 526 crore against Aravali Power Company. The dispute arose from the alleged wrongful termination of a contract by Aravali Power in 2018, according to an exchange filing.

The arbitral tribunal delivered its decision in favor of Reliance Infrastructure, deeming the contract termination as invalid. The ruling granted the company substantial consequential claims, providing a significant financial boost to RInfra.

Reliance Infrastructure announced plans to use the award proceeds as growth capital, reaffirming its commitment to advancing projects in power, infrastructure, metro, and road development sectors.

(With inputs from agencies.)