Reliance Infrastructure on Monday said it has won an arbitration award of Rs 1,250 crore against Damodar Valley Corporation (DVC).
The proceeds will be used to pay lenders and reduce the debt of the company, the infrastructure firm said in a filing to BSE.
A three-member arbitration tribunal unanimously gave the award in favour of Reliance Infrastructure on Saturday, the filing said.
Reliance Infrastructure was the engineering and construction contractor for DVC’s 1200 mw Raghunathpur thermal power project in West Bengal commissioned in 2012.
Reliance Infrastructure has won a major arbitration award of Rs 1,250 crore against DVC, a government of India undertaking, the firm said.
