Last Updated on January 30, 2026 5:39 pm by BIZNAMA NEWS
Zakir Hossain from Dhaka
Bangladesh has appointed UK-based law chambers 3 Verulam Building to represent the Bangladesh Power Development Board (BPDB) in arbitration proceedings against Adani Power Limited at the Singapore International Arbitration Centre (SIAC).
BPDB Chairman Md Rezaul Karim confirmed that the nominees’ names have been submitted to SIAC. The chambers are headed by King’s Counsel Farhaz Khan, who has been advising the National Review Committee examining power sector contracts. BPDB has also appointed Power Grid Bangladesh Chairman Rezwan Khan as a technical expert and Supreme Court lawyer Barrister Ehsan Abdullah Siddiq as a legal expert.
Adani Power initiated arbitration in 2025, claiming around $485 million in unpaid dues linked to disputed coal tariffs. Under the 2017 power purchase agreement, mediation is mandatory but non-binding before full arbitration.
Bangladesh argues that Adani inflated coal prices, raising electricity generation costs. The National Review Committee estimates Bangladesh is paying an extra $400–500 million annually due to flaws in the pricing formula and tax provisions.
Committee member Mushtaq Husain Khan warned delays could weaken Bangladesh’s case. Power and Energy Adviser Fouzul Kabir Khan said investigators had gathered evidence of bribery involving Bangladeshi officials, including records of foreign bank transactions.
Legal experts concluded Bangladesh has sufficient grounds to pursue a fraud case against Adani Power over alleged corruption, officials said.
