Supreme Court Judgment Upholds Penalty on Talwandi Sabo Power Limited; ₹127 Crore Payable
The Hon'ble Supreme Court of India has delivered a judgment concerning Talwandi Sabo Power Limited (TSPL), an entity whose equity shares are in the process of listing following the demerger of the Merchant Power Undertaking from Vedanta Limited. The ruling, passed on May 20, 2026, relates to an appeal filed by Punjab State Power Corporation Limited (PSPCL) and Punjab State Load Despatch Centre (PSLDC).The judgment addressed Civil Appeal Nos. 7436 and 7432 of 2025. In the ruling, the Supreme Court set aside a previous judgment dated March 18, 2025, issued by the Appellate Tribunal for Electricity (APTEL). Furthermore, the Court restored the original order passed by the Punjab State Electricity Regulatory Commission (PSERC) and allowed the appeals preferred by PSPCL.
The core finding of the Supreme Court upheld an alleged penalty against TSPL. This penalty was levied for the misdeclaration of availability for January 2017 under the terms of the Grid Code, alongside the applicable Late Payment Surcharge.
The critical details of the judicial ruling, including the legal action and financial consequences, are summarized below.
| Particulars | Details |
|---|---|
| Authority | Hon'ble Supreme Court of India |
| Order Date | May 20, 2026 |
| Appeal Reference | Civil Appeal Nos. 7436 and 7432 of 2025 |
| Appellants | Punjab State Power Corporation Limited (PSPCL) and Punjab State Load Despatch Centre (PSLDC) |
| Violation | Misdeclaration of availability for January 2017 in terms of the Grid Code |
| Financial Impact | An amount of approximately ~ 127 crore and applicable Late Payment Surcharge is payable to PSPCL. |
The judgment thus confirms that TSPL is liable for the penalty concerning the specified misdeclaration, resulting in a financial obligation payable to PSPCL, including the accrued Late Payment Surcharge.
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