Supreme Court of India: Allowed a consortium including Adani Power Ltd to operate a power plant of Coastal Energen power plant without changes until NCLAT ruling

16 Sep, 2024

Terming the NCLAT’s interim order as “inconsistent”, the Supreme court said on one hand the NCLAT directed that for a period of one week, the resolution professional would continue to operate the plant as before and on the other hand, it directed that the status quo as on the date will be maintained. “The first part of the above direction seems to indicate that the status quo ante would have to be restored, while the second part of the above direction seems to indicate that the status quo as on day (namely September 6) will be maintained," the Court said. Chief Justice of India (CJI) D Y Chandrachud said, “Since proceedings are listed before the NCLAT on September 18... and both sides state that no adjournments will be sought and if NCLAT prepones it will not object.” So parties shall cooperate with NCLAT when the next hearing is held, the Court said.