5 days after the Himachal Pradesh Excessive Courtroom ordered the attachment of Himachal Bhawan situated in Delhi for the restoration of Rs 150 crore owed by the state authorities to Seli Hydropower Electrical Firm following an arbitration ruling in favour of the facility agency, the state authorities Saturday sanctioned Rs 64 crore, which shall be deposited within the courtroom registry subsequent week, to cease the attachment of the premier constructing within the nationwide capital.
The federal government has additionally determined to problem within the Excessive Courtroom the 7 per cent curiosity on Rs 64 crore since 2017.
“The federal government has sanctioned Rs 64 crore, which shall be deposited within the Excessive Courtroom registry subsequent week. We are going to problem within the courtroom the 7 per cent curiosity following the due authorized course of,” Advocate Common, Himachal Pradesh, Anup Kumar Rattan, instructed The Indian Categorical.
The case pertains to the 340 MW Seli Hydropower Electrical Challenge on the Chenab River in Lahaul and Spiti district.
The state authorities awarded the venture to Seli Hydro Electrical Energy Firm Restricted/Moser Baer and issued the Letter of Allotment (LOA) on February 28 2009, following which the agency deposited the upfront premium of Rs 64 crore.
Nonetheless, the venture didn’t materialise. The state authorities cancelled the LOA and ordered forfeiture of the upfront premium.
The corporate challenged the choice earlier than an arbitrator which dominated in its favour and requested the federal government to deposit the upfront premium with curiosity. After the federal government didn’t adjust to the order, the corporate filed a petition earlier than the Excessive Courtroom underneath Article 226. The courtroom upheld the choice of the arbitrator on January 13 2023, and directed the federal government to deposit the upfront premium with curiosity with the Registry.
As a result of delay in fee, the quantity has elevated to Rs 150 crore.
The following listening to on this matter is scheduled for December 6.
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