Reliance Power Unit Wins $56-million International Arbitration Award 

Reliance Power today said its wholly-owned subsidiary Reliance Power Netherlands BV has won an international arbitration award of $56 million (Rs 390 crore) against Prestige Capital Holdings (a Seychelles-based company) and Kokos Jiang.

Reliance Power said the arbitration related to a contractual dispute in the context of the company’s coal mines in Indonesia. “The Arbitration Tribunal constituted under Singapore International Arbitration Centre (SIAC) rules in Singapore, in its award on August 21, 2018, has ordered the respondents jointly and severally to pay $56 million to Reliance Power Netherlands BV,” Reliance Power said in a regulatory filing.