Published On : Thu, Aug 11th, 2016

MADC files claim of Rupee For 910 cr on Abhijeet Group

MADCNagpur: The Mihan Airport Development Company (MADC) has served compensation claim of 910 crore on Abhijeet Group for violation of agreement. The MADC has filed a petition with Maharashtra Electricity Regulatory Commission (MERC) for compensation claim. The MADC has taken this step because of one party scrapping of agreement by Abhijeet Group, not sharing revenue, selling electricity without intimating and stopping electricity production without intimation among other reasons.

It is worth mentioning here that MADC and Abhijeet Group had entered into an agreement in 2007. Thereafter, Abhijeet MADC Nagpur Energy Power Limited company was formed. According to agreement, MADC had given land to Abhijeet Group for electricity project.

In the first phase, two units of 50 MW each were to be installed. The power plant could have been extended upto 200 MW as per requirement. But Abhijeet Group installed four units of 56 MW each and without giving information and share, started selling electricity to Reliance Infra.

In November 2013, it also stopped giving electricity to Mihan. It broke agreement in 2014 one-sided. It did not make available documents to MADC for new agreement. A decision about filing compensation claim was taken in the board meeting of MADC held on July 4, 2016. Accordingly, vice-president and managing director of MADC Vishwas Patil filed compensation claim with MERC on Wednesday.