Anil Ambani's Reliance Infra wins $632 mn arbitration against Delhi Metro

The verdict is a crucial victory for Anil Ambani as his telecom firms are in bankruptcy and he is contesting a personal insolvency case.

Reliance Infrastructure Ltd. won a four-year battle for control of money from an arbitration award that it says it needs to repay lenders.

A two-judge panel of the Supreme Court on Thursday upheld the 2017 arbitration award in favor of the Anil Ambani’s unit. The arbitration tribunal award is worth over 46.6 billion rupees ($632 million) including interest, according to Reliance Infrastructure’s annual report.

The verdict is a crucial victory for Ambani as his telecom firms are in bankruptcy and he is contesting a personal insolvency case lodged by the country’s largest lender. Reliance Infra shares jumped by the daily