JSW Energy Limited has disclosed a material litigation under Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, involving two of its wholly owned step-down subsidiaries. The disclosure was made on 6th May 2026 by Company Secretary Monica Chopra.

Writ Petitions Filed Before Himachal Pradesh High Court

JSW Hydro Energy Limited and JSW Energy (Kutehr) Limited have filed writ petitions before the Hon'ble High Court of Himachal Pradesh. The petitions challenge the constitutional validity and legal sustainability of the following:

• The Himachal Pradesh Land Revenue (Amendment) Act, 2025
• The Himachal Pradesh Land Revenue (Special Assessment) Amendment Rules, 2025
• Demand notices issued pursuant thereto by the State of Himachal Pradesh

Nature of the Impugned Legislation

The legislation under challenge seeks to levy land revenue assessed as a percentage of the "Average Market Value" of hydroelectric projects located in the State of Himachal Pradesh. The company has been advised that this levy constitutes a charge on electricity generation infrastructure rather than on land, and is constitutionally infirm on multiple independent grounds.

The following table summarises the key details of the litigation:

Broader Industry Context

The writ petitions filed by JSW Energy's subsidiaries are not isolated. Similar writ petitions have also been filed by other companies operating hydro power plants in the State of Himachal Pradesh, indicating a wider industry-level challenge to the impugned legislation. The company's legal advisors have opined that the levy is directed at electricity generation infrastructure and is constitutionally infirm on multiple independent grounds.

The Supreme Court of India, through its order dated 30 April 2026, has directed Maharashtra State Electricity Distribution Company Limited (MSEDCL) to pay an interim amount of ₹250 crore to JSW Energy . The apex court simultaneously remanded the stay issue back to the Appellate Tribunal for Electricity (APTEL) for fresh rehearing, signalling that the underlying dispute continues to be adjudicated at the appellate level.

Key Directives from the Supreme Court Order

The order dated 30 April 2026 encompasses two distinct judicial actions, as summarised below:

Implications of the Order

The Supreme Court's directive requiring MSEDCL to deposit ₹250 crore as an interim amount reflects the court's assessment of the matter pending final adjudication. By returning the stay issue to APTEL for rehearing, the Supreme Court has ensured that the appellate tribunal re-examines the stay application on its merits. The matter, involving JSW Energy and MSEDCL, thus remains subject to further proceedings before APTEL following this development.