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Our Bureau

Hyderabad , April 1

THE Chief Judge of the City Civil Courts here has issued an order of "status quo" while hearing a petition filed by Mr Laxman Raj Madas, a shareholder of Spectrum Power Generation Ltd (SPGL), pleading injunction against Mr. M. Kishan Rao and RR Godavari Power Ltd (RRGPL), a company belonging to Rolls Royce Power Ventures Ltd, from alienating their shares in the 208 MW gas-based power plant located near Kakinada in Andhra Pradesh.

In his order on Wednesday, the Chief Judge, Mr M.E.N. Pathrudu, had directed the petitioner to send notice by April 9 to Heaton Power Ltd, Towanda Services Ltd, SPGL and RRGPL, the other respondents cited in the petition, for the counter of Mr M. Kishan Rao.

While Mr Kishan Rao, his family members and the Bambino group belonging to him has 18.6 per cent stake, RRGPL, with an investment of Rs 56.04 crore, has 32.55 per cent stake in the SPGL which has an equity base of Rs 172.60 crore.

On the other hand, Mr Madas holds 2,700 shares of Rs 10 each in the company.

More Stories on : Power | Courts/Legal Issues | Andhra Pradesh

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