Alembic Pharma Moves Gujarat HC Against Rs 42 Crore Power Utility Invoices

In its recent filing, the company stated that it has filed writ petition(s) before the High Court of Gujarat at Ahmedabad seeking to quash and set aside the impugned supplementary invoices for a cumulative amount of Rs. 42,16,82,065/- issued by Madhya Gujarat Vij Company Limited (MGVCL) regarding the rooftop solar PV system.

The company stated that the litigation is presently pending before the Gujarat High Court, with the State of Gujarat and others named as respondents in the matter. Alembic Pharma clarified that the financial impact, if any, would depend on the final outcome of the proceedings and that, as of now, there is no immediate financial liability arising from the dispute.

Total quantum of claim for said litigation amounts to Rs. 42,16,82,065/- only. The amount is disputed and the final impact in monetary terms will be known only when the matter is finally disposed of, the company stated.