JSW Energy Subsidiary Wins ₹1,730 Cr APTEL Case

Date: 19th September 2026

Material Litigation Outcome:

JSW Hydro Energy Limited (JSWHEL), a material step-down subsidiary of JSW Energy Limited, had challenged an order dated 17 March 2022 passed by the Central Electricity Regulatory Commission (CERC)
The CERC order disallowed JSWHEL's claim for notional interest during construction on equity in excess of 30% infused during construction (IDC Claim)
The disallowance occurred during the truing-up of tariff for the period 2014-19 and determination of tariff for the period 2019-24
The Appellate Tribunal for Electricity (APTEL) issued its order on 18th September 2026
APTEL set aside the CERC order and allowed the IDC Claim of JSWHEL
APTEL further held that carrying cost on such claim shall be reckoned from the date of filing of the true-up petition until its eventual adjustment
The matter has been remanded to CERC to undertake prudence check of the data submitted in regard to additional IDC
The financial impact of the allowed claim is ₹1,730 crore as determined by the tribunal

Regulatory Compliance:

Disclosure made under Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Reference: Regulation 30 of the Listing Regulations