The TATA Group, the country’s foremost industrial corporate company, has decided to take its legal fight against the Jaganmohan Reddy Government to a logical end. They have approached the Supreme Court of India seeking cancellation of the AP GO on their PPAs. Not just the TATAs, even other solar power companies and global brands have also stepped up their legal fight against the AP regime.
Way back in July, 2019, shortly after coming to power in the State, the Jagan Reddy regime issued the GO cancelling the Power Purchase Agreements. The YCP Ministers said that this was done because the previous TDP Government committed irregularities in these agreements.
When the global companies objected to this at the world forums, the Modi Government cautioned the Jagan regime but it went ahead and stuck to its policy.
The power companies filed cases in the High Court. Now, the TATAs went to the Supreme Court saying that the AP DISCOMs owed dues to them pending since August 2018. As a result, financial troubles started for their companies. The TATAs sought transfer of their cases from the High Court to the Supreme Court. The Apex Court said it would hear these cases after the Sankranti holidays.
Well done, Tatas.
since Aug 2018 pending dues ha ha CBN ruling like this … now you are blaming YCP gov . who asked to make PPA with higher price and who asked to stop payments . this gov did not paid because price dispute . what happened to 40 years industry . why did he did not paid ha ha