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In accordance with Regulation 3(3) of the Trading Licence Regulations, for a person applying for Category `IV`, a trading licence should have a net worth of Rs. 10 crore and should have maintained minimum current ratio and liquidity ratio of 1:1, as on date of audited balance sheet accompanying the application.
The Supreme Court opined that it is unjust on the part of Haryana Utilities to say that 70% of the installed capacity should be further bifurcated and the Change in Law benefit should be restricted only to 70% of the installed capacity.
Supreme court was of the opinion that the “casual approach of APTEL, in not reasoning how such findings could be rendered, cannot be countenanced. As a judicial tribunal, dealing with contracts and bargains, which are entered into by parties with equal bargaining power, APTEL is not expected to casually render findings of coercion, or fraud, without proper pleadings or proof, or without probing into evidence.”
On 15-2-2023, the Central Electricity Regulatory Commission (‘CERC’) notified the date on which certain provisions of the CERC (Ancillary Services) Regulations, 2022
The Central Electricity Regulatory Commission held that the imposition of Safeguard Duty through notification issued by Department of Revenue is a ‘Change in Law’ event as per Article 12 of Power Purchase Agreement.
The Court rejected the contention forwarded by defendant 3 to the effect that the present issue had an impact on tariff, as the actions of the plaintiff had prevented the applicant from supplying power to defendant 3 under the PSA resulting into defendant 3 being forced to secure power from the open market at rates much higher than the tariff determined.
Appellate Tribunal for Electricity (APTEL): A Coram of Justice Manjula Chellur (Chairperson) and S.D. Dubey, (Technical Member) allowed an appeal filed against
No. L-1/144/2013-CERC— In exercise of powers conferred under Section 178 of the Electricity Act, 2003 and all other powers enabling it in
Central Electricity Regulatory Commission: In an order passed by Gireesh B Pradhan (Chairperson), AK Singhal, AS Bakshi and MK Iyer (Members) on a
In exercise of the powers conferred by Sections 178 (1); and 178 (2) (ze) of the Electricity Act, 2003, the Central Electricity