RAKESH NATH, J. - (1.) THIS Review Petition has been filed by Solapur Bio -energy Systems Private Limited against the judgment dated 16.09.2011 passed by this Tribunal in appeal no. 197 of 2010. By this judgment, the Tribunal had partly allowed appeal no. 197 of 2010 accepting the contentions of the appellant/review petitioner with regard to the inclusion of costs of Pre - treatment Plant in the capital cost of the Municipal Solid Waste Power Project ("MSW Project"), developed by the appellant/review petitioner.
(2.) THE Review Petition has been filed in respect of the following aspects: (a) To clarify on the Project Report and other materials placed by the Appellant in support of the capital cost of the Pre -Treatment, which material were available on record before the State Commission but was not considered by the State Commission in view of the outright rejection of the Pre -Treatment cost on the ground that it was the responsibility of the Solapur Municipal Corporation; (b) On the decision of this Hon'ble Tribunal on the aspect of debt equity ratio and interest on borrowings, in the background of the letter dated 24.06.2009 of the Bank of Baroda".
(3.) THE learned counsel for the appellant/review petitioner has submitted that the appellant had annexed a detailed Project Report with its Tariff Petition in response to the query in the Technical Validation Session. The appellant had also provided a detailed break up of the capital cost of the MSW Project alongwith the rationale for including cost of pre -treatment plant. They had also provided a copy of certificate issued by the Chartered Accountants with regard to the expenditure on the MSW Project. Thus, the appellant/review petitioner had provided all relevant information and supporting data sought by the State Commission and the State Commission while passing the impugned order had relied upon the data provided by them. Learned counsel for the appellant/review petitioner further submitted that the appellant/review petitioner had filed a sanction letter given by the Bank of Baroda which specified the amount of sanctioned loan and the interest rate applicable. This sanction letter of the Bank of Baroda has not been considered by the Tribunal. The above letter establishes that the loan sanctioned is only to the extent of 55% of the project cost and the interest rate applicable is 14.75%. The above letter justifies the claim of the appellant/review petitioner that the lenders/financial institutions were unwilling to provide 70% debt to the MSW Project and further the loan was not available at a rate lesser than 14.75%, despite the attempts made by the appellant/review petitioner.;