SURYACHAKRA POWER CORPORATION LTD 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 100 Million Units in a year. THE memorandum of association of the applicant covers trading in electricity as one of its main objects. THE notices under 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 have been published. No objections had been received on the public notice.
(2.) The application was heard on 4.10.2005. By its order dated 7/17.10.2005, the Commission had directed the applicant to file the details of persons individually holding shares of value 5% or more, annual report for the year 2004-05 and affidavit to the effect that it would not make an application to undertake transmission in electricity as a transmission licensee (inter-state or intra-state) without surrendering the trading licence if granted by Commission.
The applicant has filed the details on affidavit on 10.10.2005.
(3.) AS per Regulation 6, the net worth of the electricity trader at the time of filing of application should not be less than Rs. 1.5 crore in case of the applicant proposing to trade up to 100 Million Units of electricity in a year.;
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