Reliance Infrastructure, Along With Its Subsidiary Issued An Arbitration

Reliance Infrastructure, along with its subsidiary issued an arbitration notice against founder promoters of Pipapav Defence and Engineering for claims aggregating to Rs 5,440.38 crore for breach of warranties under the purchase agreement.

On March 4, 2015, RInfra, its subsidiary Reliance Defence Systems and the founder promoters of Pipapav Defence and Engineering entered an agreement for acquisition of shares of Pipapav Defence and Engineering, which is now being named Reliance Naval and Engineering Ltd.

"The company, along with its subsidiary, RDSPL has issued an arbitration notice against Nikhil Gandhi, Bhavesh Gandhi and their companies, i.e. SKIL Infrastructure Ltd, Grevek Investments and Finance Pvt Ltd and SKIL Shipyard Holdings Pvt Ltd.

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