Delhi HC restrains RInfra from stake sale in BSES Yamuna and Rajdhani, securing dues claimed by Shanghai Electric

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Reliance Infrastructure, part of the Anil Ambani-headed conglomerate, faced a setback from the Delhi High Court on January 19. The company was restrained from selling its stakes in BSES Yamuna and Rajdhani until the next hearing.

RInfra, as part of the strategy to offload its debts, is targeting to sell the stakes in BSES Yamuna and Rajdhani power distribution company (discom) in Delhi. As per the court order, the company has been restrained from completing the sale of stakes, CNBC-TV18 reported.

The Shanghai Electric Group is currently locked in an arbitration with RInfra over the dues.

RInfra, which was sitting on a debt of over Rs 6,000 crore till mid-2020, is working towards monetising its assets. At the company's annual shareholder meeting on June 23 last year, Anil Ambani had said that the debts would be cleared in "FY21".

In the past week, RInfra had succeeded in raising Rs 900 crore by selling off its entire 74 percent stake Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid).