Anil Ambani wins 780 crore case against DVC at Calcutta HC

Anil Ambani's Reliance Infrastructure has secured a major legal victory in a long-standing dispute with the Damodar Valley Corporation (DVC). The Calcutta High Court upheld a Rs 780 crore arbitration award in favor of Reliance Infra, which was originally granted in 2019 by an arbitration tribunal. The dispute stemmed from a delayed 1,200 MW thermal power project in Purulia, West Bengal, which Reliance Infra was contracted to build for Rs 3,750 crore. DVC sought damages, but the tribunal had ruled in favor of the Ambani-led company.

In its latest decision, the Calcutta High Court largely upheld the tribunal’s ruling, with a slight reduction in pre-award interest and a lower interest rate on a Rs 600 crore bank guarantee. This brings the total award to Rs 780 crore, including accrued interest, with DVC ordered to release the bank guarantee as well.

Reliance Infra, while pleased with the decision, is currently reviewing the full judgment. The company may proceed with enforcing the award or challenge parts of the ruling that reduced the original amount. This legal win comes as a significant boost for Anil Ambani's business operations, which have seen ups and downs in recent years.

The Raghunathpur Thermal Power Project, meant to supply electricity to West Bengal, faced delays due to several disputes between the two parties. The arbitration case was filed to resolve these financial disagreements, and after nearly five years of legal proceedings, the High Court's decision brought closure to the matter.