State-run NTPC told Supreme Court on Monday that the company would lose 10.40 crore per day if equipment supply contracts for 5 projects worth 53,000 crore are not placed in time.The apex court has turned down NTPC's plea to go ahead with the bidding procedure before next hearing, Ansaldo Caldaie India counsel Prashant Kumar said. A bench comprising Justices Altamas Kabir and Cyriac Joseph would start the final hearing over NTPC's plea from July 20.
NTPC moved Supreme Court last month against Delhi high court ruling preventing it from disqualifying Ansaldo Caldaie India from 11,000-crore equipment supply tender. The Delhi high court had on March 1 ruled against NTPC's decision to disqualify Ansaldo Caldaie India, a 73% subsidiary of Gammon India. An NTPC official said, "Pleadings of both sides are complete. We have emphasised on importance of the matter, which the court has appreciated." NTPC has alleged that Ansaldo Caldaie is making efforts to delay the matter causing loss to the exchequer.
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