HYDERABAD: Lanco Kondapally Power Ltd, part of Lanco Infratech Ltd, may soon lock horns with AP Transco to recover liquidated damages and reimbursement of income taxes paid as part of project implementation.According to company officials, Lanco is exploring legal options to settle the issue with AP Transco.This comes at a time when the company is gearing up to fight the lawsuit filed in an Australian court by Pedraman seeking damages to the tune of Rs 16,600 crore.“The Andhra Pradesh Electricity Regulatory Commission’s (APERC) order came as a rude shock. It was quite contrary to the judgement passed as per our earlier deliberations. We are consulting our teams to understand the ramifications of taking a legal course of action,” a senior company official told Express.He added that the company technically was entitled for a settlement amount of over Rs 146 crore including liquidated damages and income tax refunds.Based on the case filed by four distribution companies (discoms) alleging a delay in the implementation of the first phase of Lanco Kondapally Power Project, APERC first issued an order on June, 13 holding claims on liquidated damages. Later AP Power Coordination Committee had asked Lanco to pay Rs 28.07 crore towards liquidated damages at the earliest“Based on the order Lanco has submitted its reimbursement claims of Rs 146.43 crore to AP Power Coordination Committee and requested it to release the same immediately.Lanco is taking appropriate legal recourse for recovery of the above adjustments made by APTransco and is making all efforts to recover the above dues,” the company said in a filing with the stock exchanges.APERC also issued a separate order favouring Lanco pertaining to income tax reimbursement on June 13.“Whenever the tax reimbursement comes in, it will have a positive impact on our cash flow,” the official said.
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