JSW Energy Subsidiary Challenges Demand for ₹1,447.34 Crores Water Charges in Chhattisgarh
JSW Mahanadi Power Company Limited (JMPCL), a subsidiary of JSW Energy Limited, is contesting a substantial demand for water charges raised by the Water Resources Division in Janjgir, Chhattisgarh. The claim seeks a total of ₹1,447.34 crores, primarily relating to the period before the approval of the company's resolution plan under the Insolvency and Bankruptcy Code, 2016.The dispute centers on the legal standing of these water charges following JMPCL's resolution process. Previously, the National Company Law Tribunal (NCLT), Hyderabad, passed an order on February 13, 2025, while approving the resolution plan. This order held that all crystallized and unclaimed liabilities of JMPCL, as of the order date, would stand extinguished. Furthermore, the ruling stipulated that henceforth, no creditors of JMPCL could claim anything other than the liabilities specifically referred to in the approved resolution plan.
Based on this judicial precedent under the IBC and the specific Plan Approval Order, JMPCL contends that the demanded claim is extinguished and therefore not payable.
Consequently, JMPCL has challenged the demand before the Hon'ble High Court of Chhattisgarh at Bilaspur. Post the implementation of the resolution plan, the company has continued to make regular payments of water charges.
JSWENERGY Stock Price Movement
Today, JSW Energy Limited shares edged higher, settling at ₹546.65 after gaining 0.64% in post-market trading. The stock traded on strong conviction, with a total volume of 4.31 million shares recorded and nearing its 52-week high of ₹559.7.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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