Kalpataru Subsidiary Faces ₹63.49 Cr Demand from MSEDCL

Kalpataru Ltd's wholly-owned subsidiary, Kalpataru Retail Ventures Ltd. (KRVL), has received a final assessment order from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for approximately ₹63.49 crore. This demand relates to alleged violations concerning the passing of electricity to retailers within a mall premises. KRVL had previously filed a writ petition challenging a provisional order. The Bombay High Court has directed KRVL to deposit 50% of the assessed amount within three weeks. KRVL is currently evaluating the order and believes the demand lacks legal basis.