Current Affairs

Reliance Infrastructure files application for payment of Arbitration Award from Goa Govt

Reliance Infrastructure 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 16 February 2018.

The Tribunal had 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 15 April 2018.

Savio Rodrigues

Savio Rodrigues Founder & Editor-in-Chief GoaChronicle.com

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