The Punjab State Power Corporation Limited (PSPCL) is set to receive a penalty of Rs 127 crore and applicable late payment surcharge from Talwandi Sabo Power Limited (TSPL), a Vedanta Group company, after the Supreme Court ruled against the firm in a power availability mis-declaration case.
The case relates to alleged mis-declaration of power availability for four blocks in January 2017 in violation of the Grid Code.
In a disclosure to stock exchanges on Thursday, Vedanta Limited said the TSPL had received the Supreme Court’s May 20, 2026, judgment in civil appeals filed by the PSPCL and the Punjab State Load Despatch Centre (PSLDC).
The apex court set aside the March 18, 2025, judgment of the Appellate Tribunal for Electricity and restored the earlier Punjab State Electricity Regulatory Commission order imposing penalty on the TSPL for mis-declaration of power availability.
According to the disclosure, about Rs 127 crore along with applicable surcharge is payable to the PSPCL.
The TSPL operates a 1,980-MW thermal power plant at Banwala village in Mansa district and supplies the generated electricity to the PSPCL. Under the Grid Code, the TSPL is required to declare the total production and availability of power to the PSPCL.
The TSPL’s equity shares are in the process of being listed on the BSE and NSE following the demerger of Vedanta’s merchant power undertaking, making disclosure of liabilities mandatory.
