ESSAR ELECTRIC POWER DEVELOPMENT CORPORATION LIMITED Vs. STATE
CENTRAL ELECTRICITY REGULATORY COMMISSION
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(1.) THE applicant, a company registered under the Companies Act, 1956 has made the present application under Sub-section (1) of Section 15 of the Electricity Act, 2003 (the Act) for grant of licence for inter-state trading in electricity in whole of India, except the State of Jammu & Kashmir for trading of 500 Million Units in a year. THE notices in accordance with Sub-section (2) of Section 15 of the Act read with Clause (4) of Regulation 4 of the CERC (Procedure, Terms and Conditions for grant of Trading licence and other related matters) Regulations, 2004 were published. In response to the public notices, no objections were received. Trading in electricity is permitted under the main objects of the applicant.
(2.) As per Regulation 6, the net worth of the applicant at the time of filing of application should not be less than Rs. 7.50 crore in case of the applicant proposing to trade up to 500 Million Units of electricity in a year. Based on the details furnished by the applicant, it was established that the applicant had the required net worth at the time of making the application. Accordingly, the applicant qualified for grant of licence for inter-state trading in electricity as a category `C` electricity trader.
On the above considerations, the Commission proposed to grant licence to the applicant as category `C` electricity trader. A notice under clause (a) of Sub-section (5) of Section 15 of the Act was published inviting suggestions or objections to the above proposal. No suggestions or objections have been received in response to the notice.
(3.) IN view of the above, we direct that the applicant be issued the licence for inter-state trading in electricity as Category `C` electricity trader for trading in whole of INdia, except the State of Jammu & Kashmir. We make it clear that the applicant shall comply with all the conditions for grant of licence specified by the Commission from time to time.;
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