Reliance Power has filed its statement for claim against 11 procurers of power from the 4,000 MW Krishnapatnam Ultra Mega Power Project in Andhra Pradesh. It has filed for arbitration in the Indian Council of Arbitration under the Indian Arbitration and Conciliation Act 1996.
The Statement of Claim has cited relevant clauses under the Power Purchase Agreement signed between Coastal Andhra Power Ltd (CAPL), the wholly owned subsidiary of Reliance Power Ltd, and procurers comprising 11 state distribution companies in four states.
