Shares of Adani Power are on fire, after the Supreme Court in a ruling ordered the Rajasthan-based three discoms to pay up the balance dues, in a legacy dispute over compensatory tariffs.
The apex court held that the three Rajasthan discoms are in contempt of court, as they had not paid the dues despite their review petition having been dismissed earlier this year. The discoms had sought to review the order passed in 2020, which directed them to pay compensatory tariff to Adani Power.
The Supreme Court has now directed Rajasthan discoms to pay the compensatory tariff to Adani Power within four weeks, which amounts to Rs 4,200 cr in total. Some payments had been paid, but the entire due to Adani Power had not been cleared.
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