Reliance Infra Wins Rs 292 Cr Arbitration Award Against Goa Government


Reliance Infra Wins Rs 292 Cr Arbitration Award Against Goa Government

Reliance Infrastructure Ltd on Monday announced it has won an arbitration award of Rs 292 crore in a case against the Goa government heard by a Joint Electricity Regulatory Commission-constituted tribunal.

In an order earlier this month, the tribunal also ordered payment of annual interest at 15 per cent on the award amount if the state government fails to pay it by the deadline of April 15, 2018, a company statement here said.

“The need for arbitration arose due to prolonged non-payment of dues by the Goa government towards supply of electricity by Reliance Infrastructure from its 48 MW Goa power plant in Sancoale,” it said.

“The total outstanding dues along with interest as on October 31, 2017, amount to Rs 278 crore. Read More…

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