Adani Transmission says following due process for dispute resolution with Reliance Infra

기사입력 : 2022-09-13 09:56

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Photo=Reuters
Photo=Reuters
Adani Transmission Limited (ATL) on Monday said it is following the due process under the share purchase agreement (SPA) in dispute resolution with Reliance Infrastructure Ltd (R-Infra), part of the Reliance Anil Dhirubhai Ambani Group.

In a regulatory filing to the stock exchange, Adani Transmission Limited said, "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. In addition, ATL/Adani Electricity submitted that R-Infra has not yet settled AEML's significantly larger claims under the SPA," it said.

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," Adani Transmission Limited said.


by ANI