Reliance Infrastructure's Mumbai Metro JV secures partial victory in arbitration dispute

Reliance Infrastructure Limited announced that the Bombay High Court pronounced its judgment on February 24, 2026, partially upholding the arbitral award dated August 29, 2023 (corrected February 26, 2024) in favor of Mumbai Metro One Private Limited (MMOPL).

Background of the Legal Proceedings

MMOPL, where Reliance Infrastructure holds a 74% stake and Mumbai Metropolitan Region Development Authority (MMRDA) holds 26%, faced a Section 34 petition filed by MMRDA challenging the award. This follows Reliance Infrastructure's earlier disclosure on July 29, 2025.

Judgment Highlights

The court partially upheld the award. It directs release of the amount payable to MMOPL from MMRDA's court deposit after 8 weeks, post computation. Subject to reconciliation per the judgment, MMOPL expects to receive an estimated INR 516 crore plus interest from August 29, 2023.

Next Steps

MMOPL is conducting a detailed review of the judgment and will pursue further legally advised steps as required.

Shares of Reliance Infrastructure Limited was last trading in BSE at Rs. 97.80 as compared to the previous close of Rs. 94.90. The total number of shares traded during the day was 99189 in over 805 trades.

The stock hit an intraday high of Rs. 99.60 and intraday low of 95.20. The net turnover during the day was Rs. 9715786.00.

Source : Equity Bulls

Keywords

RelianceInfrastructure INE036A01016 BombayHighCourt ArbitralAward MumbaiMetroOne MMRDA