Reliance Infrastructure Limited has filed an application in the Hon'ble Commercial Court, North Goa, at Panaji, Goa seeking the Court's direction for the payment of the Arbitration Award it has won recently against Goa Government.
In its Application filed under section 9 of the Arbitration and Conciliation Act, 1996, Reliance Infrastructure Limited has sought the Court's direction to Goa Government to pay an amount of Rs. 278.29 crore with interest totaling to Rs. 292 crore, which was awarded by the Arbitration Tribunal in its Award on February 16, 2018.
The Tribunal had ordered payment of interest at 15% P.A. on the total award amount if Government of Goa fails to pay the entire award amount by April 15, 2018.
Shares of RELIANCE INFRASTRUCTURE LTD. was last trading in BSE at Rs.449.55 as compared to the previous close of Rs. 453.35. The total number of shares traded during the day was 530632 in over 5492 trades.
The stock hit an intraday high of Rs. 461.15 and intraday low of 446.15. The net turnover during the day was Rs. 239638776.