The apex court upheld an APTEL order allowing Adani to recover the higher cost of imported coal from Rajasthan discoms. The compensatory tariff will be calculated from 2013.
Adani Group may acquire the 50.5 percent stake of GVK Group in MIAL and buy the remaining 23.5 percent from the minority partners, the Business Standard has reported.
The board of Adani Power had approved the proposal to delist company shares from stock exchanges last month.
The company sought the approval at its annual general meeting (AGM) on Thursday.
The OPGC operates a 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha.
The board of Adani Power had approved the proposal to delist company shares from stock exchanges on Monday.
In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot.
Earlier last week, the company had told bourses that one of its promoters, Adani Properties Private Ltd, has proposed volunteer delisting of the company shares.
Its total income rose to Rs 27,841.81 crore in the last fiscal from Rs 26,361.63 crore in 2018-19.
The coal imports by NTPC also rose six fold to 1.9 million tonnes in first nine months of this fiscal from 0.32 million tonnes.
The requests mean the two biggest power producers in India are pressuring the government to delay emissions targets for a second time, citing costs and technical difficulties, even as the country chokes on some of the worst smog on the planet.
This sale will bring down GMR Group's debt pile which stood at Rs 21,000 crore as of March 2019, of which GMR Chhattisgarh Energy had an outstanding debt of Rs 5,926 crore.
It had posted a consolidated net loss of Rs 653.25 crore in the same period previous fiscal, the company said in a BSE filing.
In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
The tariff relief approved under the supplemental PPAs (power purchase agreements) by the Central Electricity Regulatory Commission (CERC) will significantly reduce the losses faced by APML and improve viability of the project, Icra said in a statement.
CLSA said after this order, FY20 losses will come down by 88 percent and debt repayment visibility will improve going forward
Adani Power has been seeking to pass through higher cost of imported coal to run this plant.