Adani Total challenges PNGRB's order regarding Faridabad 1 region

24 May 2023 , 09:28 AM

According to a regulatory filing made on Tuesday, Adani Total Gas Limited has filed an appeal with the Appellate Tribunal for Electricity (APTEL) challenging the ‘impugned’ judgments made by the Petroleum and Natural Gas Regulatory Board (PNGRB) on April 25 and April 26.

The company stated in a regulatory filing on Tuesday that these directives deal with the authorization for the Noida, Faridabad, and Gurugram Geographical Areas (GAs). On April 26, PNGRB authorized IGL to supply gas to a portion of the region, while Adani Total was designated as the supplier for the remaining portion.

The corporation asserted that it had objected to the PNGRB’s choice to award or grant authorization for the ‘Faridabad-1’ region inside the Faridabad District GA. Without prejudice, it has still received the approval for the Faridabad 2 GA.

In this regard,  the Company has filed an appeal before the Honourable Appellate Tribunal for Electricity (APTEL) against the impugned orders of the PNGRB dated April 25 and April 26 insofar as they relate to the PNGRB’s decision(s) of awarding/granting authorization for the ‘Faridabad-1’ area of the Faridabad District GA. Without reservation, the corporation has accepted Faridabad 2’s authorization, according to the corporation.

On the BSE Tuesday, the Adani Total Gas scrip ended at Rs 757.30, up 5%. Sensex as a benchmark finished 0.03% higher.

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