The shareholders of Reliance Infrastructure Limited (Reliance Infra), through postal ballot, have approved with overwhelming majority, the raising of funds upto Rs. 550.56 crore by preferential allotment of upto 8.88 crore equity shares and / or warrants convertible into equivalent number of equity shares of the Company to promoters and VFSI Holdings Pte. Limited, an…
Reliance Infrastructure Limited has announced the completion of sale of its entire 74% equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid) for an enterprise value of Rs.900 crore. RInfra owns 74% in Parbati Koldam Transmission Company Limited (PKTCL) located in the state of Himachal Pradesh and Punjab in joint…
Anil Ambani’s sons Jai Anmol Ambani and Jai Anshul Ambani have resigned as members of the board of Reliance Infrastructure. The reason for stepping down remains undisclosed. As per the company’s exchange filing, Jai Anmol Ambani and Jai Anshul Ambani ceased to be on the board from January 31. There is no news of them…
Reliance Infrastructure won Arbitration award of Rs 350 crore, including interest, against Government of Goa. The matter went into arbitration when Goa state utility delayed payments to Reliance Infrastructure for power supplied from its 48 MW-Goa Power Plant in Sancoale. The Arbitration Tribunal, on February 16 2018, had ordered the Government of Goa to pay…
Reliance Infrastructure Ltd. has won a major Arbitration Award of Rs. 1,250 crore against Damodar Valley Corporation (DVC), a Government of India undertaking. A three-member Arbitration Tribunal unanimously gave the award in favor of Reliance Infrastructure on December 21, 2019. Reliance Infrastructure was the Engineering and Construction contractor for Damodar Valley Corporation’s 2 x 600…
Anil Dhirubhai Ambani, Chairman of the Reliance Group (including, Reliance Communications, Reliance Capital, Reliance Infrastructure, and Reliance Power), has resigned from his position as Director of Reliance Communications, along with four others. Smt. Chhaya Virani, Smt. Ryna Karani, Smt. Manjari Kacker and Shri Suresh Rangachar have tendered their resignation from the office of Director. Also,…