Reliance wins Rs 7.8 billion arbitration case against Damodar Corp

23 Oct 2024 CW Team

The Calcutta High Court has upheld a Rs 7.8 billion arbitration award in favour of Reliance Infrastructure Ltd (Reliance Infra) in its long-standing dispute with Damodar Valley Corporation (DVC). The case pertains to a decade-old contract in which Reliance Infra was tasked with constructing a 1,200 MW thermal power plant in Purulia, West Bengal, valued at Rs 37.5 billion.

Delays in the project led to disagreements between the two parties, with DVC seeking damages from Reliance Infra. However, in 2019, an arbitration tribunal ruled in favour of Reliance Infra, directing DVC to pay Rs 8.96 billion, including interest. DVC challenged this ruling in the Calcutta High Court, which dismissed the petition on September 27, 2024.

In a regulatory filing, Reliance Infra stated that the court upheld the arbitration award with certain exceptions. The judgment reduced pre-award interest and the interest rate on a bank guarantee by Rs 1.81 billion, bringing the total upheld amount to approximately Rs 7.8 billion, including accrued interest. Additionally, the court directed the release of a Rs 6 billion bank guarantee tied to the project.

The company is now conducting a detailed review of the judgment. "We will proceed based on legal advice, either by enforcing the upheld portion of the award or by challenging the aspects of the judgment that interfere with the original award," Reliance Infra said in the filing.

(ET)

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..