Reliance Infrastructure Limited has received an arbitral award passed by a arbitral tribunal in the matter of arbitration between Aravali Power Company Private Limited and RIL in relation to a EPC Contract on December 18, 2024.
A three-member arbitral tribunal by a 2:1 majority held in favour of APCPL.
The Award against the Company is a for sum of ₹ 494 crore along with interest.
The company is likely to file an appeal challenging the award. “The Company is in the process of undertaking a detailed review of the Award and will initiate appropriate proceedings, as per legal advice, to challenge the Award and shall take all steps to safeguard its interest,” Reliance Infrastructure Limited said in an exchange filing.
The disclosure the the exchange was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
