Overview

• A three-member arbitral tribunal delivered a majority award on August 12 granting Reliance Infrastructure ₹526.23 crore plus interest.
• The tribunal concluded that APCPL’s 2018 termination of the 1,500 MW Jhajjar EPC contract lacked merit and partly upheld RInfra’s claims for damages.
• Reliance Infrastructure disclosed the award in a BSE filing on August 13 and described the decision as vindication of its legal position.
• The company plans to channel the proceeds into growth capital, citing its current status of zero bank borrowings.
• Aravali Power Company is a joint venture of NTPC, Haryana Power Generation Corporation and Indraprastha Power Generation Company set up to develop the Jhajjar thermal power plant supplying Haryana and Delhi.