NEPC levels charges against SWF

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New Delhi, Oct 12 (UNI) The Rs 1,500 crore wind energy major NEPC India Ltd has alleged that a company, partly owned by Anil Ambani's flagship company ADAG, has cheated the Chennai-based company of Rs 800 crore.

NEPC had entered into an agreement with Southern Wind Farms Ltd (SWF), in which Anil Ambani group had reportedly a 25 per cent stake, for the sale of its wind energy business.

However, SWF in a counter-statement has refuted the charges.

''SWF had not paid Rs 800 crore dues which includes Rs 135 crore payment to NEPC, Rs 400 crore to shareholders and the rest interest on the sum for the last two years,'' NEPC Chairman Ravi Prakash Khemka told reporters here today.

The company has filed 12 FIRs in different parts of the country where they were allegedly threatened, he added.

SWF said in a counter-statement, ''The Promoters and Directors of NEPC suppressed material facts with respect to quantum and details of the creditors'' and ''raised the liabilities.'' SWF has paid the amount and ''now they are concocting a story that no such payment has been made,'' the counter- statement added.

UNI

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