Reliance Infrastructure: INR 516 Crore Plus Interest Expected from Mumbai Metro One Joint Venture

Reliance Infrastructure Ltd. has announced that the Hon’ble Bombay High Court has pronounced its judgment on the Section 34 Petition filed by Mumbai Metropolitan Region Development Authority (MMRDA) challenging the arbitral award in favour of Mumbai Metro One Private Limited (MMOPL), a joint venture between the Company and MMRDA. The judgment partially upholds the award, directing that after computation, the amount payable to MMOPL be released after a period of 8 weeks. The estimated amount to be received by MMOPL is INR 516 crore plus interest from the date of the award dated August 29, 2023. MMOPL is currently reviewing the judgment and will take further steps as legally advised.