Adani Energy Rajasthan has filed a contempt petition within the Supreme Court docket in opposition to the ability buying and selling corporations owned by the Rajasthan Authorities for non-payment of ₹6,738 crore.
In September 2020, the apex court docket had ordered three Rajasthan energy distribution corporations to pay a compensatory tariff to Adani Energy Rajasthan since 2013 to recuperate the upper price of imported coal.
The SC judgment was consistent with an order handed by the Appellate Tribunal of Electrical energy (APTEL) granting compensatory tariff to Adani Energy Rajasthan for its 1,200-MW Kawai thermal energy plant.
Adani stated it’s dealing with extreme monetary hardship and grave prejudice because of the steady default by the ability buying and selling corporations in clearing the professional change in regulation dues pertaining to the final eight years.
“Because of such enormous excellent quantity for a very long time (since 2013), contempt petitioner (Adani Energy Rajasthan) is unable to satisfy day-to-day operational bills, debt service obligations and advance funds to coal suppliers,” Adani Energy Rajasthan stated.
State govt, Adani pact
In 2008, the Rajasthan authorities and Adani Group signed a pact to arrange 1,200 MW coal-based energy mission in Kawai at an expense of ₹5,000 crore. Underneath this deal, the State authorities assured 100 per cent home coal linkage to the corporate. However the energy unit was not noted of the Centre’s record for provide of coal in 2013. The corporate then made a declare earlier than the state electrical energy regulatory fee for a compensatory tariff, because it needed to rely upon coal imported from Indonesia.