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Reliance Infrastructure ordered to pay ₹494 crore in EPC contract dispute

Dec 21, 2024•over 1 year ago

Contract Type

contract

New DelhiFinancial Services

Description

Reliance Infrastructure Ltd has been ordered to pay ₹494 crore, along with interest, following an arbitral award passed on December 18, 2024, in a dispute with Aravali Power Company Private Ltd (APCPL) over an EPC contract. The three-member tribunal ruled in favour of APCPL by a 2:1 majority, and Reliance Infrastructure plans to challenge the award through legal proceedings.

Company Information

Company

Reliance Group

Location

New Delhi, Delhi, India

About

The Anil Ambani-led Reliance Group is a diversified conglomerate with interests in power, infrastructure, financial services, and media and entertainment.

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