Anil Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award worth over Rs 4,600 crore.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of Anil Ambani’s unit. The arbitration tribunal award is worth over Rs 4,600 crore including interest, according to Reliance Infrastructure’s annual report.
Reliance Infrastructure’s unit had in 2008 entered into a contract with Delhi Metro for running the country’s first private city rail project till 2038. Following disputes over fee and operations in 2012, Ambani’s firm stopped operating the capital’s airport metro project and initiated an arbitration case against Delhi Metro.