Reliance Infrastructure Ltd. filed an arbitration claim for Rs13,400 crore in connection with an agreement to sell Adani Transmission Ltd. its Mumbai power distribution business.
According to a stock exchange filing, Reliance Infrastructure said that an agreement from December 2017 had been broken and submitted its statement of claim to the Mumbai Centre for International Arbitration. The disagreement was not further discussed.
According to Reliance, the final result of the arbitration and any following legal challenges will determine the financial impact. On Sunday, calls to the main line of Adani Transmission were unanswered after usual business hours, and an email requesting feedback did not receive a prompt response.
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