Anil Ambani’s Reliance firm safe from SC order, Rs 33000000000 to be…

Anil Ambani, the younger brother of India’s richest man Mukesh Ambani, is making a strong comeback with Reliance Power, however his other debt-ridden firms are still struggling. Earlier this year, the Supreme Court set aside the Rs 8000 crore arbitral award in favour of Reliance Infrastructure's metro arm, Delhi Airport Metro Express Private Limited (DAMEPL). The Supreme Court has upheld the decision of the High Court's division bench citing patent illegality.  Following the order from the Supreme Court, Anil Ambani's Reliance Infrastructure Ltd said no liability has been imposed on it by the Supreme Court order that set aside a Rs 8,000-crore arbitral award that was granted in favour of Delhi Airport Metro Express Pvt Ltd (DAMEPL).

Setting aside the award, the top court ordered DAMEPL to refund all sums previously paid by the Delhi Metro Rail in accordance with the arbitral award. DMRC had paid Rs 3,300 crore to DAMEPL.

"Reliance Infrastructure wishes to clarify that the Order dated April 10, 2024, passed by the Supreme Court does not impose any liability on the company and the company has not received any money from DMRC / DAMEPL under the arbitral award," the firm said in a stock exchange filing.

While DAMEPL is a subsidiary of Reliance Infrastructure, it is a separate entity and the liability falls on it.

(with PTI inputs)