JSW Energy Limited has informed the Exchange about material litigation under Regulation 30(4) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )
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JSW Mahanadi Power Company Limited (JMPCL), a subsidiary of JSW Energy Limited, received a water charges demand of ₹1,447.34 crores from the Water Resources Division, Janjgir, Chhattisgarh. The demand largely pertains to the period before the company's resolution plan was approved under the Insolvency and Bankruptcy Code (IBC). The NCLT Hyderabad approved the resolution plan on 13th February 2025, stating all crystallised and unclaimed liabilities stand extinguished. JMPCL is currently paying water charges regularly post-resolution. The company believes the demand is extinguished under IBC precedents and the Plan Approval Order, and has challenged it before the Hon'ble High Court of Chhattisgarh at Bilaspur.
This is a legacy dispute from the pre-IBC period. While the company appears confident based on the NCLT order, the large quantum of ₹1,447.34 crores creates uncertainty. The legal outcome could impact JMPCL's financials if the demand is upheld, though the resolution plan approval provides strong grounds for defence.