News Stocks Bombay High Court Partially Upholds ₹516 Crore Arbitral Award for Reliance Infrastructure's Metro Joint VentureBombay High Court Partially Upholds ₹516 Crore Arbitral Award for Reliance Infrastructure's Metro Joint Venture
Bombay High Court has partially upheld an arbitral award favouring Mumbai Metro One Private Limited, a joint venture between Reliance Infrastructure (74% stake) and MMRDA (26% stake). The judgment dated February 24, 2026, directs release of an estimated ₹516 crore plus interest from August 29, 2023, to be paid from MMRDA's court deposits after 8 weeks. MMOPL is reviewing the judgment for further legal steps.
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Reliance Infrastructure has received a favourable outcome from the Bombay High Court regarding a significant arbitral award for its metro rail joint venture. The court's judgment dated February 24, 2026, has partially upheld an arbitral award in favour of Mumbai Metro One Private Limited (MMOPL), marking a crucial development in the ongoing legal proceedings.
Court Judgment Details
The Bombay High Court pronounced its judgment on MMRDA's Section 34 Petition, which challenged the original arbitral award dated August 29, 2023, as corrected by order dated February 26, 2024. The petition was filed by Mumbai Metropolitan Region Development Authority (MMRDA) against the award favouring MMOPL.
| Case Details: | Information |
|---|---|
| Judgment Date: | February 24, 2026 |
| Original Award Date: | August 29, 2023 |
| Award Correction Date: | February 26, 2024 |
| Court Decision: | Partially upheld |
Financial Impact and Release Timeline
The court's judgment directs that the amount payable to MMOPL be released from funds deposited by MMRDA with the High Court. The release is scheduled after a period of 8 weeks following the judgment. Subject to reconciliation in accordance with the judgment, the estimated financial benefit is substantial.
| Financial Details: | Amount |
|---|---|
| Estimated Amount: | ₹516 crore |
| Additional Component: | Interest from August 29, 2023 |
| Release Timeline: | After 8 weeks from judgment |
| Source of Funds: | MMRDA deposits with High Court |
Joint Venture Structure
Mumbai Metro One Private Limited operates as a joint venture between two key stakeholders, with Reliance Infrastructure holding the majority stake. This ownership structure positions the company to benefit significantly from the court's decision.
| Stakeholder: | Ownership Percentage |
|---|---|
| Reliance Infrastructure Limited: | 74% |
| Mumbai Metropolitan Region Development Authority: | 26% |
Next Steps and Legal Review
MMOPL is currently conducting a comprehensive review of the judgment to understand its full implications. The company has indicated that it will take further legal steps as may be advised by its legal counsel. This careful approach ensures that all aspects of the judgment are properly evaluated before determining the next course of action.
The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders regarding material developments.
Historical Stock Returns for Reliance Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.13% | -5.99% | -27.16% | -66.35% | -59.46% | +207.98% |
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