Adani Power received ₹3,000 crore in dues from the Rajasthan government | Rare Techy

Daya Adani has received Rs 3,000 crore dues and interest from the Congress-ruled RajasthanState-owned electricity distribution companies as compensation for higher fuel costs.



Held the three Rajasthan discommen who are guilty of defying the order of August 31, 2020, a Supreme Court The bench led by Justice Vineet Saran earlier on February 25 asked the Rajasthan discom officials to appear in person before it for framing charges if they failed to pay Adani Power its dues, as directed.

The Supreme Court gave four weeks to diskoms to pay Rs 3,048.63 crore to Adani Power, along with interest.

Sources said that in the last hearing on March 31, Adani Power had informed the apex court that the Rajasthan discoms paid Rs 3,000 crore to the company on March 30.

The officials, who the court said will have to appear in person before if the latest order is not followed, are Rajasthan Urja Vikas Nigam Chairman Subodh Agarwal and its MD Bhaskar Atmaram Sawant, Jaipur Vidyut Vitran Nigam MD Navin Arora, Ajmer Vidyut Vitran Nigam MD VS Bhati and Jodhpur Vidyut Nigam MD Avinash Singhvi.

conducted Power has signed an agreement with Rajasthan discoms in March 2008 to set up a 1,200 MW coal-based power project near Kawai in Baran district at a cost of Rs 6,000 crore.

According to the agreement, the state should facilitate the supply of coal either from the Central government or other sources. Since it failed to do so, the company bought imported coal to supply electricity. The company claimed higher charges from the Rajasthan Electricity Regulatory Commission (RERC).

The RERC in 2018 ruled in favor of Adani Power and directed to pay compensation by the discoms. The discoms moved the Appellate Tribunal for Electricity (Aptel), which upheld the Commission’s order. The matter was moved to the Supreme Court as the discoms argued that Adani Power was responsible for the arrangement of fuel.

SEE ALSO

Elon Musk is now asking if people want an edit button after acquiring a 9.2% stake in Twitter

Zomato, TCS, IndusInd Bank are among the top stocks to watch on April 5

Ruchi Soya FPO: This is how you can check allotment status