 "Adani Power Battles Himachal Pradesh for Rs 280 Crore Hydropower Refund")
Adani Power Limited has approached the Supreme Court to challenge a recent decision by the Himachal Pradesh High Court regarding a refund of Rs 280 crore linked to two hydropower projects in Kinnaur district. The Supreme Court has requested a response from the Himachal government on this matter. In July, the High Court overturned a previous ruling that favored Adani Power, stating that the government had initially agreed to refund the amount in 2015 but later retracted its decision. Adani argues that this situation has significantly impacted its finances and investment plans. The case revolves around two hydro-electric projects—Jangi Thopan and Thopan Powari—originally awarded to Brakel Corporation, which failed to meet its obligations before transferring equity to Adani Power.
Adani Power Appeals Supreme Court for Rs 280 Crore Refund
Adani Power Limited has taken its battle to the Supreme Court, seeking a refund of Rs 280 crore from the Himachal Pradesh government. This appeal comes after the state’s high court overturned an earlier decision to return the funds related to two hydropower projects in Kinnaur district. The Supreme Court has requested a response from the state government regarding this matter.
On July 18, the high court ruled against Adani Power, which had aimed to reclaim the substantial amount. Adani argues that the Himachal government had initially agreed to refund the money back in 2015, but has since failed to fulfill that promise. According to their plea, this delay has considerably impacted the financial standing and investment potential of the company.
The conflict revolves around two hydro-electric projects—Jangi Thopan and Thopan Powari—each with a capacity of 480 MW. These projects were first advertised by the Himachal government in 2005, with the bidding process culminating in 2006. A letter of intent was issued to Brakel Corporation, the highest bidder, but the company failed to meet financial obligations. Subsequently, Brakel transferred a portion of its equity to Adani Power, which has since been pursuing the refund.
In its ruling, the high court noted that Brakel’s claims for a refund were based on misrepresentation, complicating Adani Power’s case. As the situation develops, all eyes are on the Supreme Court’s next steps in this significant financial dispute.
Stay tuned for more updates on this unfolding legal battle that may have widespread implications for energy investments in the region.
Tags: Adani Power, Supreme Court, Himachal Pradesh, hydropower projects, refund, financial dispute, Jangi Thopan, Thopan Powari, Brakel Corporation.
What is the main issue in the Adani Power case with the Supreme Court?
Adani Power wants the Supreme Court to order a refund of Rs 280 crore from the government.
Why does Adani Power want a refund?
They believe they overpaid this amount, and they are seeking it back to improve their financial situation.
What did the Supreme Court do about it?
The Supreme Court issued a notice to the Haryana government regarding this matter, asking for their response.
How will this affect consumers?
If Adani Power gets the refund, it could potentially lower electricity prices or improve services for consumers in Haryana.
When can we expect a decision on this case?
It’s uncertain when a decision will be made; the Supreme Court will consider the government’s response before moving forward.
