Lakshmikumaran & Sridharan successfully represented Yes Bank Limited before the Supreme Court

Lakshmikumaran & Sridharan successfully represented Yes Bank Limited before the Supreme Court

The Commercial Disputes team of Lakshmikumaran & Sridharan successfully represented Yes Bank Limited before the Supreme Court in an Appeal filed by Gujarat Urja Vikas Nigam Limited in matter arising out of termination of a power purchase agreement.

GUVNL had terminated the agreement for a solar power plant on the ground of commencement of liquidation proceedings against LANCO Infratech Ltd. (owner of the power plant). Yes Bank was the financier for the project and had taken over the project consequent to liquidation proceedings.

The agreement was terminated by GUVNL despite the fact that Yes Bank Limited was successfully operating the plant and generating electricity. It was brought to the notice of the court that Yes Bank had exercised its right to take over the project as per law and the agreement. The court also granted payment of arrears in favour of Yes Bank to be paid by GUVNL within three months.Associate

The team from Lakshmikumaran & Sridharan comprised of L Charanya, (Partner); Yogendra Aldak (Partner); Vaishali Goyal (Senior Associate) and Bhavya Shukla (Associate).