Anil Ambani-led Reliance Claims Breach Of Contract Against Adani Groups

Anil Ambani-led Reliance Infrastructure has approached the Mumbai Centre for International Arbitration against Adani Transmission. The Reliance owner filed an arbitration claim of Rs 13,500 crore against Adani’s power distribution arm over breach of terms of a December 2017 share purchase deal. Notably, power businesses including generation, transmission and distribution in Mumbai were transferred to the Adani Group for Rs18,800 crore. The details regarding alleged breach awaited.