Anil Ambani-led RInfra settles dues worth Rs 26.40 bn of Maharashtra govt

The Maharashtra state government on Friday said it has received a payment of Rs 26.40 billion from Anil Ambani-led Reliance Infrastructure towards the arrears of electricity charges and taxes.

The payment was made in two instalments through GRAS (Government Receipt Accounting System) payment system on August 29 and August 30, it added.

"RInfra has paid Rs 26.40 billion towards arrears of electricity charges and taxes, which it had defaulted since 2016," a statement issued by the state energy department said.

RInfra had this week announced the completion of the sale of its entire Mumbai energy business to Adani Transmission for Rs 188 billion.

With this deal, Adani Transmission will now have to cater to RInfra's three million customers, entailing 1,892 megawatts (MW) of power distribution along with a generation capacity of 500 MW coal-based plant at Dahanu and over 540 circuit km of the transmission network.

Also, with this single deal, RInfra has managed to reduce its debt by 65 per cent, from Rs 220 billion to Rs 75 billion.