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Discom cannot terminate PPA with insolvent power company: SC

Discom cannot terminate PPA with insolvent power company: SC The Gujarat power distribution company had moved Supreme Court saying that neither the National Company Law Tribunal (NCLT) nor the NCLAT had the jurisdiction to stay the termination, which was done as per the clauses of the agreement Dipak Mondal | March 9, 2021 | Updated 13:25 IST Gujarat electricity distribution and trading company - Gujarat Urja Vikas Nigam Ltd - has been barred by the Supreme Court to terminate the power purchasing agreement (PPA) with an insolvent company - Astonfield Solar (India) Pvt Ltd. The Supreme Court on Monday dismissed an appeal by the GUVNL against an order by the National Company Law Appellate Tribunal (NCLAT), which had earlier stayed the termination of PPA on grounds that the power generator - Astonfield Solar (India) - had filed for insolvency.

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