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.
Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
