Reliance Infrastructure Limited has won an arbitration award of Rs 292 crore against Government of Goa.
The Arbitration Tribunal, in its award on February 16, 2018, has ordered Government of Goa to pay Rs 292 crore to Reliance Infrastructure Limited by April 15, 2018.
The Tribunal has also ordered payment of interest at 15% P.A on the total award amount if
Government of Goa fails to pay the entire award amount by the deadline.
Joint Electricity Regulatory Commission had constituted the Tribunal under the new rules laid down in 2015. Starting in January 2016, the proceedings of the tribunal were held for about two years and all pleadings and arguments by both the parties were completed in 12 sittings.