Adani Power Limited updates on appeal filed by MSEDCL

The Hon'ble Supreme Court has pronounced its judgment dismissing an appeal filed by Maharashtra State Electricity Distribution Company Limited ("MSEDCL") challenging an order passed by the Hon'ble Appellate Tribunal for Electricity ("APTEL") on 14th September 2020 in favour of Adani Power Maharashtra Limited ("APML"), wholly owned subsidiary of Adani Power Limited (the "Company"), in the matter of compensation under Change in Law for domestic coal shortfall pursuant to changes in New Coal Distribution Policy ("NCDP").

MSEDCL had challenged various parameters under which Hon'ble APTEL had permitted APML to claim recovery of alternate fuel costs under Change in Law clauses corresponding to 2500 MW in the Power Purchase Agreements ("PPAs") signed with APML for supply of power from its 3300 MW Supercritical power plant at Tiroda, Maharashtra. This judgment of the Hon'ble Court brings to conclusion this longoutstanding regulatory matter.

Shares of Adani Power Limited was last trading in BSE at Rs. 169.45 as compared to the previous close of Rs. 161.40. The total number of shares traded during the day was 301874 in over 3231 trades.

The stock hit an intraday high of Rs. 169.45 and intraday low of 169.45. The net turnover during the day was Rs. 51152549.00.

Source : Equity Bulls

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AdaniPower INE814H01011 Appeal Update