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The High Court has ordered the formation of a high-level inquiry committee, with international energy experts and international law experts as its members, to reevaluate all electricity-related agreements with India's Adani Group.
The bench of Justice Farah Mahbub and Justice Debasish Roy Chowdhury gave the order today (19 November) after hearing a writ petition. The cabinet secretary has been ordered to form the committee within a month and submit the report to the court within the next two months.
The Business Standard Google News Keep updated, follow The Business Standard's Google news channel The court also issued a rule asking why instructions should not be given to cancel the lopsided agreements made with the Adani Group.
In addition, the court has asked for the documents of the bargaining that took place during the inking of the agreement within a month. Barrister M Abdul Qayyum represented the petitioner in court. He was assisted by Barrister Moniruzzaman, Advocate Afroza Firoz Mita and Barrister Kamarun Mahmud Mita.
On 13 November, Barrister M Abdul Qayyum filed the writ in the High Court seeking cancellation of all electricity deals with India's Adani Group.
A 25-year power purchase agreement was signed with Adani in 2017. At that time, no imported coal-based power plant was started in the country. Electricity is supplied to Bangladesh from Adani's 1,600 MW power plant in the eastern Indian state of Jharkhand.
The Adani power costs Bangladesh about Tk12 ($0.1008) per unit, an official of the Bangladesh Power Development Board said, citing the latest audit report for financial year 2023-24.
That is 27% higher than the rate of India's other private producers and as much as 63% more than Indian state-owned plants.
Meanwhile, after slashing the power supply to Bangladesh by half over unpaid dues, Adani Power earlier this month set a deadline of 7 November to switch off the flow of electricity if there is no clarity on settlement of the outstanding amount.
Currently, Bangladesh owes Adani almost $850 million, said the report published today.
Later in the day, Adani Group in a clarification said it has not demanded full payment in seven days.
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