Anil Ambani
The last few days, Mukesh Ambani’s younger brother Anil Ambani was not doing good. There were many types of allegations against him. ED raids were also conducted. During this time, he has won more than Rs 526 crore. He has won an Arbitral Award, which is more than Rs 526 crore. From the year 2018, a case was going on in the court on this issue. Whose decision has now come. Ambani’s company has announced to use this money in the growth of the company. Let us also tell you what is the whole matter ..
Was incorrectly eliminated contact
Reliance Infrastructure filed a case against Aravalli Power Company Private Limited (APCPL) against the wrong way of wrongdoing the contract. In which REFRA has won Rs 526 crore as Arbitral Award. The company said on Wednesday that the three -member arbitral tribunal has considered the termination of the contract by the APCPL to be illegal, invalid and wrong and has partially accepted the company’s claim for damage and cost due to incorrectly abolition of contract. The Arbitral Award in favor of Reliance Infra is Rs 526.23 crore including interest. In 2018, Reliance Infra decided to go into arbitration by the Aravalli Power Company Limited against incorrectly eliminating the contract. The company said that the amount received from this award will be used by Reliance Infra for capital growth.
Here is the decision of the tribunal
On 1 July, the Delhi High Court sought a reply from Reliance Infra on the Aravalli Power Company’s petition, seeking to implement an arbitral decision of Rs 600 crore against Anil Ambani’s company in December last year. Accusing Rinfra of a violation of the contract, Aravalli Power issued a notice of termination and decided to go to Arbitral in 2018. The three -member Arbitral Tribunal appointed by the Supreme Court ordered a majority of Rs 419 crore, cost of Rs 5 crore and Rs 149 crore interest on the original amount and future interest on the original amount till the actual date of payment.