Anil Ambani, who has been struggling with debt for a long time, has got a piece of good news. In fact, Reliance Infrastructure has won a Rs 1,250 crore arbitration suit against Damodar Valley Corporation ie DVC. The Arbitration Tribunal has asked the Government of India undertaking DVC to pay Rs 896 crore to Reliance Infra and return the bank guarantee of Rs 354 crore in four weeks. DVC will have to pay additional interest at the rate of 15 percent per annum if the payment takes more than four weeks.

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Now Reliance Infra will use this amount to repay the loan. In a communication sent to the stock markets, Reliance Infra said, "This amount will be used to pay the lenders and reduce the company's debt." This was the case of Reliance Infra's RW's 1200 MW Raghunathpur in West Bengal The engineering and construction contract of the thermal power project was merged. But the project was delayed due to non-availability of land and opposition from local people.

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Reliance Infra had demanded a claim from DVC due to difficulties in completing the project. Anil Ambani got a sigh of relief from Britain too. Recently, Anil Ambani has also got relief from the High Court of Britain. In fact, three banks of China - Industrial and Commercial Bank of China Limited, China Development Bank and Export-Import Bank of China had approached the London High Court in the case of loans to RCom. At present, the court rejected this claim. The UK High Court accepted that side of Anil Ambani that Chinese banks' claims with respect to their alleged guarantees for corporate loans received by Reliance Communications Ltd cannot be valid.

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