Reliance Infra wins arbitration case worth Rs 780 crore
The High Court of Calcutta has upheld an arbitration award worth Rs 780 crore in favor of Reliance Infrastructure Ltd in a dispute with West Bengal-based Damodar Valley Corporation (DVC), the Anil Ambani group.
Reliance Infrastructure had won a contract to set up a 1,200 MW thermal power plant in Purulia in West Bengal for Rs 3,750 crore. The project was delayed due to disputes and other reasons, leading to DVC seeking damages from Reliance Infrastructure. Reliance challenged this, and an arbitration tribunal in 2019 ruled in favor of the company and directed DVC to pay Rs 896 crore to the company.
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