Adani Electricity has issued a media statement in response to the arbitration initiated by Reliance Infrastructure Ltd (R-Infra).
The statement reads as follows:
“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 crore.
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.
This year, in February and August, R-Infra filed supplementary arbitration requests, raising additional disputes and claims.
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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.”
Note: ATL stands for Adani Transmission Ltd, the holding company of Adani Electricity Mumbai Ltd (AEML or Adani Electricity)
