Reliance Power / A big win for Anil Ambani, MMRDA will give Rs 1,169 crore

Reliance Power: A big news has come out from Mumbai, which has given new hope to Anil Ambani's business future. The Bombay High Court has ruled in favor of Reliance Infrastructure's subsidiary company Mumbai Metro One Private Limited (MMOPL). The court has directed the Mumbai Metropolitan Region Development Authority (MMRDA) to pay ₹ 1,169 crore to MMOPL.

What is the whole matter?

This dispute was regarding Mumbai Metro Line-1 (Versova-Andheri-Ghatkopar), which was prepared under the Public-Private Partnership (PPP) model. Reliance Infrastructure had a major stake in this project. MMOPL claimed in the court that it invested much more than estimated in the project, but the fixed payment was not made by MMRDA.

There was a long-running dispute between the two parties regarding this issue, which has now been resolved by the Bombay High Court.

Court's decision

The Bombay High Court ruled in favour of MMOPL, saying that its claim was based on legal and contractual terms. The court clearly ordered MMRDA to pay ₹1,169 crore as soon as possible.

Big win for Anil Ambani

This decision is not only a legal relief for Anil Ambani but also a turning point from the financial point of view. Reliance Infrastructure, which was facing financial difficulties for the last few years, can now move towards some stability after this decision.

MMOPL is actually a joint venture between Reliance Infrastructure and MMRDA. Reliance Infrastructure has a 74% stake in it, while the rest is with MMRDA. This venture is successfully running Mumbai's first metro line.

From darkness to light: Anil Ambani's comeback

Anil Ambani's story is seen as a big lesson in the business world. In 2008, he was the sixth richest person in the world, with a net worth of around $42 billion. But over the next decade he went into a rapid decline. His major businesses – Reliance Communications and Reliance Capital – reached the state of bankruptcy.

In 2020, he declared himself bankrupt in a UK court. In 2019, he was on the verge of going to jail for not paying Ericsson, where his brother Mukesh Ambani helped him at the last moment.

In 2024, SEBI banned him from the securities market, which further damaged his credibility. But now the situation is changing. The performance of his companies is improving and after this legal victory, his net worth may also increase.