CosmicTaco

Supreme Court to Hear Adani Power's ₹280 Crore Refund Plea

CosmicTaco · 2024-09-02T17:19:34.583523+05:30

- The Supreme Court will hear Adani Power Ltd's plea for a ₹280 crore refund from the Himachal Pradesh government. - Justices M.M. Sundresh and Aravind Kumar issued a notice but did not stay the Himachal Pradesh High Court's recent order. - The High Court's division bench overturned a single-bench decision favoring Adani Power's refund claim. - The case involves the 960-megawatt Jangi Thopan Power Project and financial dealings with Brakel Corporation NV. - The High Court ruled that Adani Power's financial arrangement with Brakel lacked state approval and was non-transparent.

The Supreme Court will hear Adani Power Ltd's plea for a ₹280 crore refund from the Himachal Pradesh government.
Justices M.M. Sundresh and Aravind Kumar issued a notice but did not stay the Himachal Pradesh High Court's recent order.
The High Court's division bench overturned a single-bench decision favoring Adani Power's refund claim.
The case involves the 960-megawatt Jangi Thopan Power Project and financial dealings with Brakel Corporation NV.
The High Court ruled that Adani Power's financial arrangement with Brakel lacked state approval and was non-transparent.