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The judgment reinforces that Government procurers must adhere strictly to prescribed contractual remedies and procedural safeguards before imposing commercially significant consequences such as debarment or risk-purchase liability on suppliers.
The bid process culminated with ARTL emerging as the successful bidder whereafter ARTL incorporated an SPV namely, M/s Indore Gujarat Road Limited to substitute the Existing Concessionaire for the Project. With NHAI’s approval on the implementation of the substitution and also on the financing arrangement availed by ARTL from YES Bank Ltd for funding the consideration amount for the substitution, the parties executed definitive documents for successful implementation of the substitution.
Prateek previously worked with Khaitan & Co and with ICICI Bank Limited. Prateek holds an LL.M. in Corporate and Financial Law from Jindal Global Law School and graduated with a B.A. LL.B. (Hons.) from The WB National University of Juridical Sciences, Kolkata.
Manipal Law School hosted Constructing Legal Foundations 2026, bringing together judges, arbitrators, industry experts, and academicians to discuss construction disputes, arbitration, contract delivery, and infrastructure reforms in India.
The project is expected to advance India’s energy security objectives, while also reflecting the government’s broader push for infrastructure development in the region, making it a project of both economic and geopolitical strategic significance.
The Supreme Court upheld the judgement passed by the APTEL after observing that the generating companies were entitled to compensation so as to restore them to the same economic position, if the Change in Law had not occurred.
Supreme Court: In a big win for Adani Power Limited, the 3-judge bench of NV Ramana, CJI and Krishna Murari and Hima