Delhi HC upholds Rs 1.15 billion arbitration award for BHEL in RattanIndia dispute
The Delhi High Court has upheld a Rs 1.15 billion arbitration award in favor of Bharat Heavy Electricals Limited (BHEL) in a dispute with RattanIndia Power Limited over the Nasik Thermal Power Project Phase I. The ruling, delivered on March 6, 2025, reinforces BHEL’s claim, including an 18% annual interest from 30 days after the original award date of July 27, 2017. The project, implemented by RattanIndia Nasik Power Limited (RNPL), a special purpose vehicle…