Adani Energy Initiates Arbitration Proceedings Against Gujarat Energy Transmission

Adani Energy Solutions Ltd. has initiated arbitration proceedings against Gujarat Energy Transmission Corp.

The Adani group company, formerly known as Adani Transmission Ltd., expects to claim Rs 99.76 crore for the litigation filed in respect to work done to supply and erect the 400 kV D/C Mundra-Zerda transmission line, according to a stock exchange filing.

Adani Energy's unit, Adani Electricity Mumbai, is also contesting three claims aggregating Rs 1,862.5 crore in various courts.

Shares of Adani Energy Solutions rose 0.50% to close at Rs 822.2 per share, as against a 0.51% decline in the benchmark Nifty 50.

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