According to a stock exchange filing, Reliance filed its statement of claim with the Mumbai Centre for International Arbitration, citing a breach in terms of an agreement from December 2017. The disagreement was not further discussed.
A Significant Dispute Arises In Reliance Firm's Deal With Gautam Adani: A violation of the conditions of an agreement from December 2017 was reported by Report Reliance.
In connection with a contract to sell its Mumbai power-distribution business to Adani Transmission Ltd., Reliance Infrastructure Ltd. said it filed an arbitration claim for 134 billion rupees ($1.7 billion).
According to a stock exchange filing, Reliance filed its statement of claim with the Mumbai Centre for International Arbitration, citing a breach in terms of an agreement from December 2017. The disagreement was not further discussed.
According to Reliance, the final result of the arbitration and any following legal challenges will determine the financial impact.
After usual business hours, calls to Adani Transmission's main line were unanswered.