Brief: Reliance Infrastructure Wins Arbitration Against Damodar Valley Corporation
23/12/2019 05:55
Dec 23 (Reuters) - Reliance Infrastructure Ltd RLIN.NS :
* RELIANCE INFRASTRUCTURE LTD - WINS ARBITRATION AWARD OF
12.50
BILLION RUPEES AGAINST DAMODAR VALLEY CORPORATION
* RELIANCE INFRASTRUCTURE- TRIBUNAL ASKED DAMODAR VALLEY
CORPORATION TO PAY 8.96 BILLION RUPEES AND RETURN BANK
GUARANTEES OF 3.54 BILLION RUPEES WITHIN 4WEEKS
* RELIANCE INFRASTRUCTURE- CO WILL REQUEST DVC TO PAY 75% OF
THE
ARBITRAL AWARD AGAINST BANK GUARANTEE IMMEDIATELY
* RELIANCE INFRASTRUCTURE- PROCEEDS WILL BE USED TO PAY
LENDERS
AND REDUCE THE DEBT OF THE COMPANY
Source text for Eikon: ID:
Further company coverage: RLIN.NS
((Reuters.Briefs@thomsonreuters.com;))
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