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• GMR Power Corporation Limited (GPCL), a subsidiary of GMR Infrastructure Limited ('GIL') which had approached the Tamil Nadu Electricity Regulatory Commission (TNERC) for adjudication of disputes with Tamil Nadu Electricity Board (TNEB) arising out of the Power Purchase Agreement with TNEB.TNERC by its order dated April 16, 2010 had allowed the claims of GPCL and directed TNEB to pay approximately Rs. 480 Crore with interest in six equal monthly installments.

• Aggrieved by the said order of TNERC, the TNEB had preferred an appeal before the Appellate Tribunal for Electricity (APTEL). APTEL, by its judgment dated February 28, 2012, has dismissed the appeal filed by TNEB and upheld the order of the TNERC.The payment of Rs. 537 Crore (including interest) received till date by GPCL from TNEB by virtue of interim order of APTEL (dated November 19, 2010), will be retained by GPCL in settlement of the dues from TNEB.

• The said APTEL order has also adjudicated on an interlocutory application filed by TNEB, wherein APTEL has directed that the interest to be computed on the amount of fuel invoices payable by GPCL to Hindustan Power Corporation Limited on/for credit periods should be paid or set-off against payments due to GPCL from TNEB.The GMR Infrastructure Ltd stock was trading at Rs.28.65, up by Rs.0.30 or 1.06%. The stock hit an intraday high of Rs.29.70 and low of Rs.28.40.The total traded quantity was 26.46 lakhs compared to 2 week average of 15.02 lakhs.

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