Alembic Pharmaceuticals is contesting supplementary invoices received from Madhya Gujarat Vij Company Limited (MGVCL) related to the installation of a rooftop solar PV system. The company has filed a writ petition with the High Court of Gujarat seeking to quash these invoices, totaling ₹42,16,82,065. The financial implications are dependent on the litigation’s outcome.
Dispute Over Supplementary Invoices
Alembic Pharmaceuticals is currently involved in a legal dispute concerning supplementary invoices issued by Madhya Gujarat Vij Company Limited (MGVCL). These invoices pertain to the installation of a rooftop solar PV system at the company’s facilities.
Legal Action and Financial Implications
Alembic Pharmaceuticals has filed a writ petition with the Hon’ble High Court of Gujarat, Ahmedabad, seeking to quash and set aside these supplementary invoices. The cumulative amount contested is ₹42,16,82,065.
Contingent Liability
The ultimate financial impact on Alembic Pharmaceuticals will be determined by the final outcome of the legal proceedings. Currently, there is no immediate financial liability. The amount of ₹42,16,82,065 is disputed and the final impact will be known only when the matter is fully resolved.
Source: BSE
