Reliance Infrastructure Ltd (R-Infra), part of the Reliance Anil Dhirubhai Ambani Group, initiated arbitration on one specific dispute under the Share Purchase Agreement (SPA) in December 2021. This was a claim for Rs 500 Cr. Following due process, ATL/Adani Electricity rejected the R-Infra claim, Adani Group has said that.
Adani Group said, In addition, ATL/Adani Electricity submitted that R-Infra has not yet settled AEML’s significantly larger claims under the SPA. This year, in February and August, R-Infra filed supplementary arbitration requests, raising additional disputes and claims. In our view, these are afterthoughts and based on untenable positions. ATL/Adani Electricity is following the due process laid out under the SPA for dispute resolution and will respond with facts and present its own claims against R-Infra in the arbitration proceedings.