Business Update18 Sept 2024, 02:19 pm
Reliance Infrastructure Ltd Announces Settlement with Adani Energy Solutions Limited
AI Summary
Reliance Infrastructure Ltd. has disclosed an agreement with Adani Energy Solutions Limited (AESL) to settle disputes and withdraw arbitration claims against each other. The agreement, which is non-monetary in nature, is set to be executed on September 17, 2024. The agreement aims to resolve disputes related to breach of terms, special rights such as the right to appoint directors, first right to share subscription in case of transfer of Mumbai Power Business, and withdrawal of any change in capital structure. The parties are not related to promoter/promoter group/group companies and the transaction does not fall under related party transactions.
Key Highlights
- Reliance Infrastructure Ltd. and Adani Energy Solutions Limited (AESL) to settle disputes.
- Agreement to be executed on September 17, 2024.
- No monetary consideration involved in the agreement.
- Disputes to be resolved include breach of terms and special rights.
- Not related to promoter/promoter group/group companies and not a related party transaction.