ACME Solar Subsidiary Appeals ₹7.82 Crore Duty and Tax Ruling

ACME Aklera Power Technology Private Limited, a subsidiary of ACME Solar Holdings Ltd., is formally challenging a ruling from the Rajasthan Electricity Regulatory Commission (RERC). The company has appealed to the Appellate Tribunal for Electricity (APTEL) against a November 13, 2025, RERC order that disallowed claims totaling ₹7.82 crore. These claims relate to Basic Customs Duty (BCD) and Goods and Services Tax (GST) that the company incurred.

APTEL has accepted the appeal for further review, with the next hearing scheduled for April 29, 2026. ACME Solar is seeking to recover these project costs.

Background of the Dispute

This appeal is part of an ongoing process for compensation related to regulatory changes, known as 'Change in Law' provisions. On November 17, 2025, the RERC had previously awarded ACME Aklera Power Technology approximately ₹47.40 crore. This earlier award covered increased project expenses due to hikes in BCD and GST, plus associated carrying costs.

However, the subsequent RERC order on November 13, 2025, while approving the total compensation amount, did not allow a specific portion of these claims, amounting to ₹7.82 crore. This specific disallowance led to the current appeal filed by ACME Solar's subsidiary.

What Happens Now

The ₹7.82 crore in disallowed claims is now under review by APTEL. The company is pursuing legal avenues to recover these project expenses, aiming for a favorable outcome. As the case is under judicial review, there are no immediate financial settlements or penalties linked to this particular disallowed amount.

Potential Risks

A primary risk for ACME Solar is that the appeal may not be successful. If the ruling stands, the subsidiary could be required to absorb the ₹7.82 crore in disallowed claims, impacting its project cost recovery.

Next Steps

Investors and stakeholders will be monitoring the upcoming hearing at the Appellate Tribunal for Electricity on April 29, 2026. Any specific dates set by APTEL for further submissions or arguments, and the final verdict on the disallowed claims, will be crucial indicators. The company's management of its overall project cost recovery pending this appeal's outcome will also be closely watched.