About Reliance Infrastructure Ltd-Part 2

Defence- The Company’s defence business has two operational JVs, that together hold 12 Industrial licenses issued by the DIPP. It has an operational JV with Dassault Aviation of France which delivered a large number of aerostructures of Falcon-2000 business jets and components of Rafale fighter jets. The JV is in the process of adding ~3,00,000 Sq Ft to its existing facility. Reliance Power- The Company is a promoter of Reliance Power. In FY23 it was allotted ~33.51 Cr equity shares of Rs. 10 each of Reliance Power upon conversion of warrants issued under Preferential allotment. Reliance Power currently has an operational capacity of 5,945 MW. Arbitration Award The Co. had a pending dispute against the Delhi Airport Metro Line Project. In FY22, the Supreme Court upheld the arbitral award in favor of the company’s subsidiary DAMEPL. Delhi Metro Rail Corporation was directed to pay damages of Rs. 2,950 Cr plus interest up to the date of payment to DAMEPL. In Q2 FY24 Hon’ble High Court at Calcutta pronounced judgment in a petition filed by Damodar Valley Corporation (DVC) passed in favor of the Company, in respect of the Raghunathpur Thermal Power Project, wherein DVC was directed to pay Rs 896 Cr and return Bank Guarantees of Rs. 354 Cr. Capex BRPL and BYPL spent Rs. 1033 Cr for the up-gradation, strengthening, and modernization of the distribution network. Termination of Agreement The Co’s subsidiary KM Toll Road Private Limited has terminated the Concession Agreement with the National Highways Authority of India (NHAI) for the Kandla Mundra Road Project because of a Material Breach and the Event of Default by NHAI.