Change in Law: Haryana discoms need to pay compounded interest to Adani Power, says SC

In a setback to Haryana discoms, Uttar Haryana Bijli Vitran Nigam and and Dakshin Haryana Bijli Vitran Nigam, the Supreme Court on Wednesday held that they need to pay Adani Power carrying cost interest on compounding basis from January 29, 2014 on account of a “Change in Law” event.

The event had taken place when Adani Power had to incur additional costs on installing Flue Gas Desulfurization (FGD) unit, as directed by the Ministry of Environment and Forests in 2010, at its 4620 MW coal-fired power plant at Mundra, Gujarat.