POWER

SC issues notice in PPA termination matter to Adani Power in rare curative order

The Supreme Court has issued notice to Adani Power while allowing a rare curative petition filed by Gujarat Urja Vikas Ltd (GUVNL) against an order passed in July 2019 letting the company terminate a power purchase agreement.

The curative order comes as a major relief to the Gujarat utility as according to industry estimates the payable compensation to Adani Power stood at nearly Rs 11,000 crore.

“We have gone through the curative petition and the relevant documents. In our prima facie opinion, there are substantial questions of law raised in this curative petition, which require consideration,” said the order passed on Thursday by a five-judge bench headed by chief justice N V Ramana.

Law experts said the curative judgments, particularly in power sector, are very rare. The matter has been listed for next hearing on September 30.

The previous order passed by a three -judge bench headed by the then justice Arun Mishra had in July 2019

Source
ET Energy World
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