Reliance Infra Wins Rs 405 Crore Arbitration Award

03 Oct 2023 CW Team

Reliance Infrastructure, a subsidiary of the Reliance-Anil Ambani group, has won a Rs 405 crore arbitration award after the Calcutta High Court ruled in its favor in a dispute with West Bengal-based Damodar Valley Corp (DVC).

The overall award is worth around Rs 1,354 crore, including a bank guarantee of Rs 354 crore provided by DVC, a public sector enterprise. DVC had previously released the bank guarantee and paid the business Rs 595 crore.

Rel Infra was awarded a contract to build a thermal power plant in Raghunathpur, West Bengal, for Rs 3,750 crore more than ten years ago. DVC sought damages from Rel Infra after the project experienced multiple disagreements and delays. Rel Infra, on the other hand, disputed this, and an arbitration tribunal sided with the firm. Following multiple rounds of judicial proceedings, Rel Infra is now scheduled to get the remaining Rs 405 crore from DVC.

In a filing with BSE, Rel Infra said the HC, ?except for certain issues, has upheld the majority of the award to the extent of Rs 1,354 crore, including interest till date and includes bank guarantees of Rs 354 crore which were returned by DVC to the company at the direction of the Arbitral Tribunal.?

According to the company's statement, Rel Infra is reviewing the verdict and will take appropriate action.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..