Construction Mirror Article detail

The Delhi High Court on Wednesday prohibited Reliance Infrastructure from disposing of, alienating, transferring, or encroaching upon its assets valued at $135.32 million in a case pertaining to the enforcement of an arbitration award granted to Chinese company Shanghai Electric Group Co. Ltd., which won against Anil Ambani's company.

 

A division bench of Justices Sanjeev Sachdeva and Manoj Jain restrained RInfra from creating any third-party rights over its assets, setting aside the July 19, 2022, judgment dismissing the Chinese company's plea under Section 9 of the Arbitration Act. The judgment said, "Though the amount awarded, along with interest and costs, constitutes a higher amount than the above amount. However, the order is limited to the amount sought in the petition under Section 9 of the Arbitration Act."