HP HC reserves verdict on Adani power plea to release Rs 280 Cr upfront deposit
Himachal Pradesh High Court has reserved the verdict into the plea of M/s Adani Power Limited, which has prayed to refund upfront premium to the tune of Rs 280.969 crore, deposited against 960 MW Jangi Thopan hydel power projects alloted to Netherland based Brakel corporation NV in 2006-07.
Single bench of Justice Sandeep Sharma on Thursday ordered the reserveverdict, in a high profile matter.
Earlier to the order counsel for the state and Advocate General Ashok Sharma opposed the the petition making counter arguments that Adani Power was neverparty in the power project and State govt has been dealing with Brakel NV in the said power project
M/s Adani Power has filed a Writ petition in the year of 2019 with the prayer for refund of an amount of Rs 280.269 crores together with interest there upon at the rate of 18 percent from the date of the payment until the refund to the petitioner with further ancillary prayers for quashing of the communications letter dated 7th December 2017 and 10 th October 2017.
In 2006 two hydro projects Jangi Thopan – Powari in Kinnaur Distt, were allocated to Brakel after the bidding. At that time Brakel NV could not deposit the upfront money within the time limit. So, the 2nd highest bidder Reliance infrastructure knocked the door of the State High court and prayed that this project should be given to them.
During the hearing Brakel corporation NV has somehow managed to deposit the upfront money. On behalf of Brakel this money was deposited by Adani Power. But Adani Power has never been in the consortium of Brakel.
In the year of 2009 the Double Bench of the High Court annulled this allocation to Brakel and the State govt had forfeited this upfront money according to therelevent clauses of the bid documents.
In the Year of the 2015 -16 the then Virbhadra Singh govt had decided to allocate this project to Reliance Infrastructure. On the account of intervention by Reliance Infrastructure Ltd to refund the upfront premium deposited by Brakel NV without interest by getting the same deposited from Reliance Infrastructure Ltd.
But Reliance Infrastructure Limited Itself backed out , thus ,the decision of refunding the upfrontpremium which was deposited by Brakel NV to the tune of 280.969 crore could not mature.
It is worthwhile to mention that the then Virbhadra govt has refused to refund the upfront premium to M/S Adani Power Ltd in October 2017, while earlier Virbhadra Govt was ready to refund it by getting the same deposited by Reliance Infrastructure.
Earlier Mr Anil Wahal , the Director Of Brakel NV has filed an application before the Single benchof Justice Sandeep Sharma to implead him as a necessary party in this ongoing litigation between Adani Power Limited Versus State govt since 2019.
But the State govt and M/s Adani Power Limited opposed this application and on 23 rd of november counsel for Anil Wahal withdrew this application, with liberty to file at appropriate stage, before appropriate court of law.
