SC denies stay to discoms on Reliance Power's Rs 1,050 crore claim for Sasan UMPP

NEW DELHI: The Supreme Court has turned down a plea of power distribution companies buying electricity from Reliance Power's Sasan ultra mega power project (UMPP) seeking stay on payment of Rs 1,050 crore dues to the company.
The apex court did not grant stay on an order of Appellate Tribunal for Electricity (APTEL) dated March 31, 2016 as requested by procurers of Sasan UMPP, the company said in a statement.

APTEL had quashed the Central Electricity Regulatory Commission’s order that rejected the commercial operation date suggested by the firm as March 31, 2013 for the first unit of the plant.

The APTEL order paved the way for Sasan to recover Rs 850 crore from procurers and a late payment surcharge of nearly Rs 200 crore.