Adani Power Ltd has won an appeal before the Appellate Tribunal for Electricity (APTEL), which set aside an order passed by the Maharashtra Electricity Regulatory Commission (MERC) in a pending litigation involving the company.
In a regulatory filing on Thursday, Adani Power said APTEL has allowed its appeal and directed MERC to issue consequential orders in line with APTEL’s earlier judgment.
The tribunal has also directed MERC to compute the Change in Law compensation based on the operational parameters prescribed in its earlier judgment, the company said.
The litigation was among the material proceedings disclosed by Adani Power in August 2023 under the SEBI Listing Regulations. The latest disclosure provides an update on the appeal filed by the company before APTEL against the MERC order.
According to the company’s detailed disclosure, APTEL has set aside the MERC order and directed the state electricity regulator to pass consequential orders strictly in accordance with APTEL’s earlier judgment and calculate the Change in Law compensation using the operational parameters specified by the tribunal.
Adani Power did not provide any further details on the quantum of compensation in the regulatory filing.
The company said the litigation relates to proceedings before the electricity regulator and tribunal, while disclosures relating to litigation against key management personnel or promoters were marked as not applicable.
