Anil Ambani-led Reliance Infra wins $632 million arbitration against Delhi Metro

Thursday, 9 September 2021Newsdesk

Reliance Infrastructure Ltd. won a four-year battle for control of money from an arbitration award that it says it needs to repay lenders.

New Delhi, 09 September 2021

As per news report of The Indian Express, a two-judge panel of the Supreme Court on Thursday upheld the 2017 arbitration award in favor of the Anil Ambani’s unit. The arbitration tribunal award is worth over 46.6 billion rupees ($632 million) including interest, according to Reliance Infrastructure’s annual report. The verdict is a crucial victory for Ambani as his telecom firms are in bankruptcy and he is contesting a personal insolvency case lodged by the country’s largest lender. Reliance Infra shares jumped by the daily limit of 5% after the court order.

Source - indianexpress.com