New Delhi: Bharat Heavy Electricals Limited (BHEL) has initiated legal proceedings against Raichur Power Corporation Limited, seeking recovery of outstanding dues amounting to Rs 143.21 crore.
Follow The PSUWatch Channel on WhatsApp
According to a regulatory filing, the PSU has filed a commercial suit before the Bengaluru Commercial Court under provisions of the SEBI Regulations, 2015.
The dispute pertains to dues arising from a contract executed for supply and services related to 2x800 MW units, along with associated works, at the Yeramaras Thermal Power Station.
Follow Energy Watch on LinkedIN
BHEL stated that the legal action has been taken to recover pending payments under the contract. The development has been disclosed as a material event in regulotry filing to the stock exchnages on Friday.
Further details regarding the proceedings and responses from the defendant are awaited.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)