Eurotex Industries faces ₹140 Crore electricity bill demand; legal recourse underway
Eurotex Industries received a ₹140.45 crore electricity bill demand from MSEDCL. The company is pursuing legal recourse after a Supreme Court appeal was dismissed and is preparing to approach the Ombudsman. MSEDCL has threatened to disconnect power supply if the amount is not paid within 15 days.
The large financial demand and the threat of power disconnection pose a significant operational and financial risk to the company.
The company is facing a substantial financial demand from MSEDCL and has had a recent Supreme Court appeal dismissed, indicating a negative development.
Eurotex Industries and Exports Limited has received a significant demand notice from MSEDCL for outstanding electricity bills totaling ₹140.45 crore. This amount includes principal and interest across three consumer numbers. Two connections, consumer numbers 251019402196 and 251019402510, were permanently disconnected with pending dues of ₹18.79 crore and ₹35.49 crore respectively. The third connection, consumer number 251019402668, has a current outstanding amount of ₹86.17 crore. MSEDCL has transferred the outstanding amounts from the disconnected connections to the active one and has demanded payment within 15 days, threatening disconnection of the current electricity supply.
The company has been pursuing legal avenues regarding these charges. An earlier appeal before MERC and APTEL, which was in Eurotex's favor but not accepted by MSEDCL, led to a Supreme Court filing for clarification. However, this appeal has reportedly been dismissed, and the company's advocate has provided the judgment copy to decide further action. The company is also in the process of applying to the Ombudsman after their petition was dismissed by the Consumer Grievance Redressal Forum (CGRF) in Kolhapur, concerning the notional billing of MSEDCL for Plot E-1.
Eurotex Industries considers the demand for ₹54.28 crore (including ₹37.48 crore interest) for Plot E-23 to be wrongly claimed and is taking legal steps to protect its interests against the threat of power supply disconnection.
What to do with a filing like this
Eurotex Industries and Exports Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Eurotex Industries and Exports Limited. Read the original for the full detail.