 "Supreme Court")
The Supreme Court has dismissed an appeal by Gujarat Urja Vikas Nigam Ltd (GUVNL) against the order of tribunals to not terminate the power purchase agreement (PPA) between the Nigam and LANCO Infratech Ltd after latter's assets were taken over by lender YES Bank for Bhadrada Solar Power Project in Gujarat.
GUVNL had terminated the agreement for the solar power plant over the commencement of liquidation proceedings against LANCO Infratech Ltd. (owner of the power plant).
YES Bank was the financier for the project and had taken over the project consequent to liquidation proceedings.
The agreement was terminated by GUVNL despite
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