Anil Ambani led Reliance Infrastructure Limited (R-Infra) has filed an application in the Commercial Court, North Goa, at Panaji, Goa seeking the court’s direction for the payment of the arbitration award it has won recently against Goa Government.
“In its application filed under section 9 of the Arbitration and Conciliation Act, 1996, Reliance Infrastructure has sought the court’s direction to Goa Government to pay an amount of ₹278.29 crore with interest totalling to ₹292 crore, which was awarded by the Arbitration Tribunal in its award on February 16, 2018,” said a company statement.
The Tribunal had ordered payment of interest at 15% per year on the total award amount if Goa government fails to pay the entire award amount by April 15, 2018. R-Infra shares on BSE closed down 4.26% at ₹430.4 in a weak Mumbai market on Thursday.
