City
Epaper

Goa loses arbitration award appeal against Reliance Infra

By IANS | Updated: September 12, 2019 22:45 IST

A court here on Thursday ruled against the Goa government in an appeal challenging an arbitration award in favour of Reliance Infrastructure Ltd over a power purchase dispute, directing the state to pay the company Rs 292 crore plus interest.

Open in App

Principle District and Sessions Judge Irshad Agha was hearing a petition filed by Reliance Infrastructure, which sought speedy disbursement of dues awarded to it in an arbitration award which was granted in February last year, by a Joint Electricity Regulatory Commission Tribunal.

Speaking to reporters, Goa Advocate General Devidas Pangam said that it was up to the state government to decide on whether to appeal agt the order.

"Our contentions and objections were rejected by the honourable Court. However, the court also granted a stay of six weeks for the government to allow us to appeal in the High Court... It is for the government to take a decision on it," he said.

Last year, Reliance Infrastructure Ltd had won the Rs 292 crore arbitration award, after the Goa government had raised objections to the bills raised by the private company for supply of power to the state government, via its subsidiary Reliance Salgaocar Power Ltd, a private power supply firm which was operating in the state.

Following the Goa court's order, the state government now owes Reliance Infrastructure Limited Rs 359 crore, along with interest, in dues.

When Reliance Salgaocar Power Company shut down, the firm had transferred several megawatts of power to the state government-run grid, and a dispute had arisen between the two parties over payment towards the supply of power.

The RSPC and the Goa government had signed a power purchase agreement in 1998.

While the Goa government had claimed that the power supply bill raised by Reliance Infrastructure Ltd was unreasonably high, the private firm had insisted that the dues owed were as per norms.

( With inputs from IANS )

Tags: Reliance InfrastructureReliance Infrastructure Ltd
Open in App

Related Stories

BusinessED Seizes 13 Bank Accounts of Anil Ambani's Reliance Infra Over FEMA Violations

BusinessAnil Ambani’s Reliance Infra Shares Jump 5%, Hit Upper Circuit for Third Straight Day, Lifting Investor Sentiment

BusinessAnil Ambani’s Reliance Power & Infra Hit 5% Upper Circuit; Sensex Jumps 300 Points, Nifty Tops 24,730

BusinessAnil Ambani’s Reliance Power, Reliance Infra Stocks Jump as Investors Cheer New Developments

BusinessAnil Ambani’s Reliance Infra Share Price Zoom Despite Indian Stock Market Crash Amid Trump’s Tariff Policy

कारोबार Realted Stories

BusinessRaj Dy CM Diya Kumari inaugurates five-day festival; says Sambhar emerging as global tourist site

BusinessPM Modi chairs meet of chief secretaries; discussion on governance reforms held

BusinessCentre unveils 2 major initiatives worth Rs 44,700 crore to boost India’s shipbuilding capacity

BusinessIndian Railways' capacity expansion to enhance train operations in Guwahati: NFR

BusinessOman’s Duqm port expands India’s range of maritime options: Report