Tata Power files ₹221 crore insurance claim following Trombay plant fire incident
The fire, which affected the cable vault and subsequently the Control Room, led to significant damage. The company has already received an ad hoc advance of Rs 50 crore from its insurer, with the final settlement pending after a complete assessment of the damages.
“The company has filed an insurance claim of approximately ₹221 crore for the damages incurred, which is currently under assessment by the insurer. An ad hoc advance of ₹50 crore has been released, with the final settlement to be determined following the completion of the assessment,” according to a stock exchange filing.
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Preliminary estimates of the damage are around ₹221 crore, excluding potential costs related to business interruptions, which will depend on the time required to fully restore operations.
Restoration efforts are underway, and Tata Power has indicated that the financial impact of the incident will be minimal due to insurance coverage, with any costs mainly limited to policy deductibles. Production and services remain largely unaffected, as the incident does not materially impact the company’s overall financial standing.
Shares of Tata Power Company Ltd ended at ₹427.15, up by ₹1.80, or 0.42% on the BSE.
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