Announced Sat, 11 Jul · 19:35 IST
MSEDCL raises Rs 63.49 cr demand on Kalpataru subsidiary; HC orders 50% deposit
Regulatory & Legal View source PDF
KALPATARU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.3%1-day move
₹286.70
prior close
₹287.00
base price
After-mkt
timing
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-0.7-0.6-0.2—-2.3-2.6-3.7-4.9-4.1-5.1————
Up moveDown movePending
AI summary
MSEDCL issued a final assessment order to Kalpataru Retail Ventures Ltd (KRVL), a wholly owned subsidiary, demanding about Rs 63.49 crore under Section 126 of the Electricity Act, 2003 for alleged unauthorized electricity transmission to retailers at a Mall. The Bombay High Court, hearing KRVL's writ petition, directed deposit of 50 percent of the assessed amount within three weeks. KRVL says the demand has no legal basis and is exploring further remedies.
Likely market impact
Subsidiary faces Rs 63.49 cr demand and must deposit around Rs 31.74 cr in three weeks; may pressure financials until litigation concludes.