Reliance Infrastructure Ltd. stated it filed an arbitration declare of 134 billion rupees ($1.7 billion) in relation to a deal to promote its Mumbai power-distribution enterprise to Adani Transmission Ltd.
Reliance cited a breach within the phrases of a December 2017 settlement, and filed its assertion of declare earlier than the Mumbai Centre for International Arbitration, in keeping with a inventory change submitting. It didn’t elaborate on the dispute.
“The financial implication cannot be ascertained and is contingent upon the final outcome of arbitration and subsequent legal challenges,” Reliance stated.
Calls to Adani Transmission’s most important line went unanswered outdoors of standard enterprise hours on Sunday, and there was no quick reply to an e-mail looking for remark.
–With help from Ashutosh Joshi.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)