Reliance Infrastructure Limited (RIL) has filed an international arbitration claim of Rs 134 billion (USD1.7 billion) against Adani Transmission Limited before the Mumbai Centre for International Arbitration.
As per RIL, the arbitration claim is over what is described as the breach of terms of its December 2017 share purchase agreement with Adani Transmission related to the transfer of its Mumbai power distribution business. Reportedly, the financial implication cannot be ascertained and is contingent upon the final outcome of arbitration and subsequent legal challenges. The nature of the alleged breach of contract has not been disclosed.