Statement from Adani Electricity on RInfra Arbitration

Reliance Infrastructure Ltd (R-Infra), part of the Reliance Anil Dhirubhai Ambani Group, initiated arbitration on one specific dispute under the Share Purchase Agreement (SPA) in December 2021.

This was a claim for Rs 500 Cr.

Following due process, ATL/Adani Electricity rejected the R-Infra claim.

In addition, ATL/Adani Electricity submitted that R-Infra has not yet settled AEML's significantly larger claims under the SPA.

This year, in February and August, R-Infra filed supplementary arbitration requests, raising additional disputes and claims.

In our view, these are afterthoughts and based on untenable positions.

ATL/Adani Electricity is following the due process laid out under the SPA for dispute resolution and will respond with facts and present its own claims against R-Infra in the arbitration proceedings.

Source : Equity Bulls

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AdaniTransmission AdaniElectricity RelianceInfrastructure RINFRA Arbitration Statement