High Court Orders Deposit of Funds from Kalpataru Subsidiary over MSEDCL Demand
Kalpataru Retail Ventures Ltd. (KRVL), a wholly owned subsidiary of Kalpataru Limited, has been directed by the Hon'ble High Court of Judicature at Bombay to deposit a portion of funds related to an assessment order issued by Maharashtra State Electricity Distribution Company Ltd. (MSEDCL).The action stems from a Writ Petition filed by KRVL challenging a Provisional Assessment Order issued by MSEDCL. Subsequently, MSEDCL issued a final Assessment Order dated July 07, 2026, under Section 126 of the Electricity Act, 2003. This assessment raised a demand amounting to approximately Rs.63.49 crore regarding alleged violations concerning the supply of electricity to retailers operating within Mall premises.
The Hon'ble High Court of Judicature at Bombay passed an order on July 9, 2026, in Writ Petition No. 8455 of 2026. The court directed KRVL to deposit 50% of the amount assessed under the final Assessment Order into the Registry of the Court within three weeks from the date of the Order.
KRVL is currently reviewing the High Court order and evaluating available legal remedies. According to legal advice received, KRVL maintains that the demand issued by MSEDCL is liable to be set aside or quashed as it lacks a proper legal basis. The company confirmed receipt of the High Court Order on July 10, 2026.
KALPATARU Stock Price Movement
Kalpataru Limited saw its shares climb on Friday, settling at ₹288.05 after gaining 0.12%. The stock traded within a daily range of ₹285.2 to ₹293 and recorded a volume of 95,624 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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