Adani Power Limited on Friday said the Supreme Court has ruled in its favour in its dispute with three state electricity boards: Maharashtra, Rajasthan and Haryana.
In a regulatory filing, Adani Power said: “This is to inform that the Hon’ble Supreme Court has pronounced its orders pertaining to various regulatory appeals involving Adani Power Limited (APL) and its erstwhile subsidiaries Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL), and Adani Power (Mundra) Limited (APML), which now stand amalgamated in APL.”
The company was referring to three separate orders passed by the Supreme Court this year, with the latest on Thursday in a case involving itself and two Haryana power utilities.
The Supreme Court on Thursday has upheld the plea of Adani Power Mundra Limited(APML) for higher compensation on account of domestic coal supply shortage it suffered after entering into a power purchase agreement with two Haryana state power distributors.
However, the exact amount of compensation running into several crores is not known.
In March, the Supreme Court dismissed appeals filed by the Maharashtra State Electricity Distribution Company against Adani Power Maharashtra — allowing compensation to the company on the matter of coal supply.
Earlier, the apex court in February had ruled in favour of the company in a case involving Rajasthan’s three state-run distribution companies. The matter also relates to compensation for higher fuel costs. The Rajasthan discoms were asked to pay Rs 3,048cr with interest.
In the third ruling on Thursday, a bench of Justice B.R. Gavai and Justice Vikram Nath dismissed the joint appeal filed by Uttar Haryana Bijli Vitran Nigam Ltd and Dakshin Haryana Bijli Vitran Nigam Ltd who are the two distribution licensees for Haryana.
The two distributors entered into two power purchase agreements (PPAs) with Adani Power Mundra Limited for the procurement of 1424MW.