Mr Sethi is in remand facing criminal charges of occasioning the government a loss of hundreds of billions of shillings through the firm. IPTL said in a statement yesterday that the decision to remove him from all management positions was aimed at positioning the firm as the leading Independent power producer in the country. IPTL had been selling power to Tanesco until August 2017 when the Energy and Water Regulatory Authority (Ewura) declined to renew its power production licence amid a running controversy over IPTL’s reported takeover by Mr Sethi. However, the firm has a power purchase agreement with Tanesco that runs up to January 2022.
