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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..