Reliance Power has announced that 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.
Kokos Jiang is the owner of Sugico Group in Indonesia, from whom Reliance Power had acquired the entire economic interest in three coal mining concessions in Indonesia in 2010.
Source- The Hindu Business Line
Static/Current Takeaways Important for Indian Bank PO Exam 2018-
- The Arbitration Tribunal was constituted under Singapore International Arbitration Centre (SIAC) rules in Singapore.