 "tata power")
For its June 2019-ended quarter, Tata Power reported an exceptional expense of Rs 328.97 crore as standby provision. The exceptional item is owing to litigation against Adani Electricity’s Mumbai operations, where the Supreme Court (SC) upheld an appellate order.
“With respect to the standby litigation with Adani Electricity Mumbai, SC during the quarter has upheld the appellate tribunal for electricity order dated December 20, 2006, directing the group to pay Rs 354 crore,” the company said in notes along with its financial results for the quarter under review explaining exceptional items.
“With respect to the standby litigation with Adani Electricity Mumbai, SC during the quarter has upheld the appellate tribunal for electricity order dated December 20, 2006, directing the group to pay Rs 354 crore,” the company said in notes along with its financial results for the quarter under review explaining exceptional items.
The note added, “The payment is along with
