The Gujarat High Court today directed Torrent Power Ltd to deposit Rs 20 crore with the Gujarat State Petronet Ltd (GSPL) as an “interim deposit” until the petition filed by the company against a recovery order by the GSPL is settled.
A Gujarat High High Court division bench, comprising acting Chief Justice V M Sahai and Justice R P Dholaria, directed Torrent Power Ltd to deposit Rs 20 crore out of a total recovery amount of Rs 49 crore to the GSPL, subject to the outcome of the plea.
In a petition before the Gujarat High Court, Torrent Power had challenged an order, passed in July 2014, levying transport tariff on the electricity generation company by the GSPL as per norms of the Petroleum and Natural Gas Regulatory Board (PNGRB).
The Gujarat-based electricity giant has also demanded setting aside of the recovery order of the amount to the tune of Rs 49 crore.
However, the Gujarat High Court directed the petitioner (Torrent Power Ltd) to first deposit Rs 20 crore with the GSPL and it also stayed the tariff order of the PNGRB passed on July 2014, granting a status quo on recovery.
Further hearing of this case has been posted for November 26.