Adani Transmission in a press statement released on September 12 stated that it has rejected an arbitration claim worth Rs 500 crore initiated by Reliance Infrastructure Ltd (R-Infra), part of the Reliance Anil Dhirubhai Ambani Group, over a dispute under the share purchase agreement (SPA) in December 2021.
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“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,” the Adani Group said.
Further, ATL/Adani Electricity submitted that R-Infra has not yet settled Adani Electricity Mumbai Limited’s (AEML) significantly larger claims under the SPA.
This year, in February and August, R-Infra filed supplementary arbitration requests, raising additional disputes and claims.
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These are afterthoughts and based on untenable positions, stated Adani Transmission.
ATL/Adani Electricity said it 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 during the arbitration proceedings.
