23 Mar 2018 | 05:49am IST
Reliance moves court to make Goa pay arbitration award
PANJIM: Reliance Infrastructure Limited has filed an application in the Commercial Court, at Panjim, seeking the Court’s direction for the payment of the Arbitration Award it won in February this year against the Goa government.
In its application filed under section 9 of the Arbitration and Conciliation Act, 1996, Reliance Infrastructure Limited has sought that the Court direct the State government to pay an amount of Rs 278.29 crore with interest totaling to Rs 292 crore, which it was awarded by the Arbitration Tribunal in its award on 16 February 2018.
The tribunal had ordered payment of interest at 15 per cent per annum on the total award amount if the government fails to pay the entire award amount by 15 April 2018.
