‘Will respond with facts’: Adani Transmission clarifies on Rs 13,400 cr claim by Anil Ambani’s R-Infra  

The Adani Transmission Ltd (ATL) on Monday said that Rs 13,400 crore claim raised by Anil Ambani’s R-Infra was afterthoughts and based on untenable positions. The ATL in a statement said that Reliance Infrastructure Ltd (R-Infra), part of the Reliance Anil Dhirubhai Ambani Group, initiated arbitration on one specific dispute under the Share Purchase Agreement (SPA) in December 2021.

“This was a claim for Rs 500 crore. Following due process, ATL/Adani Electricity rejected the R-Infra claim. In addition, the ATL submitted that R-Infra has not yet settled AEML’s (Adani Electricity Mumbai Limited) significantly larger claims under the SPA,” it said.

In February and August this year, the statement said, the R-Infra filed supplementary arbitration requests, raising additional disputes and claims. “In our view, these are afterthoughts and based on untenable positions,” the ATL said.

The company further said that it was following the due process laid out under the SPA for dispute resolution and “will respond with facts and present its own claims against R-Infra in the arbitration proceedings”.

R-Infra on September 9 informed that it has filed a claim of Rs 13,400 crore for breach of the terms of the share purchase agreement dated 21st December 2017 relating to the transfer of Mumbai Power Business to Adani Transmission. The claim has been filed before the Mumbai Centre for international arbitration.