Reliance Infrastructure Ltd. said that his party filed an arbitration claim of 134 billion rupees ($ 1.7 billion) in connection with an agreement to sell the Mumbai electricity distribution business to Adani Transmission Ltd.

Reliance quoted violations in the provisions of the December 2017 agreement, and submitted a claim statement before the Central Arbitration Center of Mumbai, according to the Exchange Submission. That does not describe disputes.

Financial implications cannot be ascertained and depend on the final results of the next arbitration and legal challenges,” Reliance said.

Adani Group in a media statement said, Reliance Infrastructure Ltd (R-Infra), part of Reliance Anil Dhirubhai Ambani Group, initiated an arbitration in a special dispute based on a share purchase agreement (SPA) in December 2021.

This is a claim for ₹ 500 crore and follows the legal process, ATL/Adani Electricity rejects R-Infra claims, adding media statements.

ATL/Adani Electricity follows the process set under the spa for dispute resolution and will respond with facts and present their own claims to R-Infra in the arbitration process, Spokeperson Adani Group said.