Reliance Infrastructure files arbitration claims worth Rs 13,400 crore against Adani Transmission

Reliance Infrastructure has filed its statement of arbitration claims

Anil Ambani Group company, Reliance Infrastructure, has filed international arbitration against Adani Group company in connection with a dispute over breach of the terms of its December 2017 share purchase agreement relating to the transfer of its Mumbai power distribution business to Adani Transmission.   

Reliance Infrastructure has filed its statement of arbitration claims of for a sum of approx. Rs 13,400 crore before the Mumbai Centre for International Arbitration.  

The stock of Reliance Infrastructures has advanced more than 40 per cent in the last one month, meanwhile, the stock has jumped 119 per cent in the last one year as a result the stock has turned multibagger-pick ">Multi-bagger. However, stock witnessed severe correction on Friday as it settled at lower limit of the day.

Talking about the performance of stock of Adani Transmission, the stock closed with modest gains on Friday. The stock has gained 14 per cent in the last one month and the performance of the stock in the last one year has been mindblowing as the stock has jumped nearly 118 per cent.