RInfra files application in Commercial court in Goa for Arbitration Award

22 Mar 2018 Evaluate

Reliance Infrastructure (RInfra) has filed an application in the Commercial Court in Goa, seeking the Court’s direction for the payment of the Arbitration Award it has won recently against Goa Government.

The company 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.

RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

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