Reliance Infrastructure Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
RELINFRA · price
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Awaiting price reaction for this filing.
The Bombay High Court has directed MMRDA to deposit the entire arbitral award amount of approximately ₹1,169 crore (including accrued interest till May 31, 2025) with the court's registry by July 15, 2025. This relates to a 2023 arbitral award in favour of Mumbai Metro One Private Limited (MMOPL), a joint venture where Reliance Infrastructure holds 74% and MMRDA holds 26%. The award, originally for ₹992 crore plus interest, was passed in MMOPL's favour for the Versova–Andheri–Ghatkopar metro corridor. MMRDA had challenged the award under Section 34 of the Arbitration Act, and importantly, the court refused to grant MMRDA an unconditional stay, instead requiring it to deposit the full amount upfront.
Positive for Reliance Infrastructure shareholders. The court's refusal to grant an unconditional stay and the direction for MMRDA to deposit the full award amount significantly strengthens the likelihood of MMOPL recovering the ₹1,169 crore, which would be a material cash inflow for the company.