Bharat Heavy Electricals Limited (BHEL) has recently informed exchanges that the company has filed a writ petition before the Karnataka High Court against Raichur Power Corporation Ltd. (RPCL) and others. The petition challenges the wrongful withholding of INR 423.42 crores by RPCL and seeks a court directive for the release of the amount.
As per Regulation 30(4) of SEBI (LODR) Regulations, 2015, this legal development has been classified as material. BHEL seeks a court declaration affirming that RPCL’s withholding of funds is wrongful and demands the immediate release of the amount.
In the meantime, BHEL shares opened today at ₹182.60, reaching a high of ₹189.36 and a low of ₹180.80 during the session. The stock remains near its 52-week low of ₹176.00, significantly below its 52-week high of ₹335.35.
