NEW DELHI: Anil Ambani’s Reliance Infrastrcture said in an exchange filing that the Calcutta High Court has upheld a R780 crore arbitration award in favour of the company in a dispute with West Bengal-based Damodar Valley Corporation. The company had won a contract to set up a 1,200 MW thermal power plant in Purulia in West Bengal for Rs 3,750 crore.
The project was delayed due to disputes and other reasons, leading to DVC seeking damages from Reliance Infrastructure.
“This is to inform that on September 27, 2024, the Division Bench of Hon’ble High Court of Calcutta delivered its judgment in a petition filed by Damodar Valley Corporation (DVC) challenging the arbitration award under Section 34, dated September 29, 2023, amounting to approximately R780 crore, including accrued interest in favour of the company concerning the Raghunathpur Thermal Power Project,” the firm said.