Mumbai, February 9, 2025 – Reliance Infrastructure Limited (RInfra) has announced the final settlement of its long-standing disputes and claims with CLE Private Limited (CPL) through a consent agreement under Mediation Application No. 181/2023 submitted to the Bombay High Court.
Key Highlights of the Settlement
- Settlement Value: ₹6,503.13 crore.
- Nature of Agreement: The resolution of disputes and claims through mediation under the Mediation Act, 2023.
- Asset Transfer: CPL’s assets/economic interests worth ₹5,777.13 crore have been assigned/transferred to RInfra.
- Debt Conversion: A decreed amount of ₹726 crore has been converted into a secured loan.
- Representations & Indemnities: The settlement includes customary representations, warranties, and indemnities in favor of RInfra.
- No Related Party Transaction: The agreement does not involve any related party transactions.
Impact on Reliance Infrastructure
This settlement provides a full and final resolution of all outstanding disputes and claims against CPL, strengthening RInfra’s financial position. The significant asset transfer and secured loan conversion enhance the company’s balance sheet.This move aligns with RInfra’s strategy to resolve litigation, improve financial stability, and focus on its core business operations.