Judgment in favor of Anil Ambani

Reliance Infrastructure chief Anil Ambani’s tussle with West Bengal’s Damodar Valley Corporation (DVC) has been relieved.

The Calcutta High Court upheld the tribunal’s verdict that DVC should pay Rs 780 crore to Reliance Infrastructure Limited. Reliance Infra stated this in a stock exchange filing.

Ten years ago, Anil Ambani’s company Reliance Infrastructure won a contract for Rs 3,750 crore to set up a 1200 MW thermal power plant in Purulia, West Bengal. However, due to some reasons, the project did not materialize. The government organization DVC objected to this. As a result, they wanted to pay some amount as compensation.

With this, Anil Ambani knocked on the door of the court. He started a legal battle against the DVC organization seeking justice. In 2019, the tribunal heard the matter and ruled in favor of Anil Ambani. DVC ordered to pay Rs 896 crore to Reliance Infra. The verdict was challenged by DVC in Calcutta High Court. The trial court upheld the order given by the tribunal and ordered to pay Rs.780 crores.