RInfra moves Goa Commercial Court for payment of arbitration award won against Goa government
Mumbai, Mar 22 (IBNS): Reliance Infrastructure Limited, in a press release on Thursday, said that it 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 Limited has sought the Court’s direction to Goa Government to pay an amount of Rs. 278.29 crore with interest totaling to Rs. 292 crore, which was awarded by the Arbitration Tribunal in its Award on February 16, 2018, the company said.
According to the company release, the Tribunal had ordered payment of interest at 15 per cent P.A. on the total award amount if Government of Goa failed to pay the entire award amount by April 15, 2018.
Reliance Infrastructure Ltd (RInfra) is a leading infrastructure company, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
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