The Supreme Court on Wednesday said it will hear on Tuesday the joint application filed by Adani Power Mundra and Gujarat Urja Vikas Nigam (GUVNL), seeking modification of the apex court’s decision of July 2, 2019 as they had arrived at an out-of-court settlement in a dispute over termination of a February 2007 power purchase agreement (PPA) for supplying 1,000 MW of electricity.
As per the settlement deed, Adani has agreeed to relinquish compensation worth thousands of crores from the state-owned discom, which in turn has undertaken not to terminate the PPA of February 2, 2007, which was upheld by the SC in 2019.
