In what can be seen as a relief for Reliance Infrastructure, the Supreme Court on Monday dismissed Damodar Valley Corporation’s (DVC) appeal against the Calcutta High Court order which directed it to deposit Rs 898.41 crore in enforcement of the Rs 1,500-crore arbitration award (including interest) that the former had won in December 2019. DVC was granted four weeks time to comply with the deposit order. The Rs 898.41 crore is the full amount which DVC has to pay RInfra.
Both Reliance Infrastructure and DVC had filed cross-appeals against the Calcutta High Court order.
