Ponni Sugars (Erode) Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
PONNIERODE · price
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Ponni Sugars has informed the exchanges about an order from the Tamil Nadu Electricity Regulatory Commission (TNERC) dated July 17, 2025. The company had filed a petition seeking a refund of Rs. 3.01 crores in excess charges paid for start-up power, based on a previous TNERC order from December 2023. The TNERC registry had earlier returned the petition on technical grounds, but TNERC has now directed the registry to take it up as a Miscellaneous petition. The opposing parties are Tamil Nadu Green Energy Corporation Limited (TNGECL) and its officials. The decision on maintainability is in favor of the company, while the actual refund issue will be decided in due course.
This is a procedural win for the company as its petition has been admitted for hearing, but the actual Rs. 3.01 crore refund is still pending TNERC's final order. Shareholders should treat this as a positive but not material development until the final outcome is known.