21ST CENTURY INFRASTRUCTURE INDIA PVT LTD Vs. STATE
CENTRAL ELECTRICITY REGULATORY COMMISSION
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(1.) THE applicant, a company registered under the Companies Act, 1956 (1 of 1956) has made the present application under Sub-section (1) of Section 15 of the Electricity Act, 2003 (36 of 2003) 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.
(2.) The applicant was incorporated on 3.2.2000. As per its Memorandum of Association its authorised capital is of rupees five lakh, divided into five thousand shares of rupees ten each, against which it has the issued share capital of rupees three lakh.
As per the Regulation 6 of the Central Electricity Regulatory Commission (Procedure, Terms and Conditions for grant of Trading Licence and other related matters) Regulations, 2004, the net worth of the electricity trader at the time of filing of application should not be less than Rs.1.50 crore in case an applicant proposes to trade 100 Million Units of electricity in a year. The applicant has submitted that its net worth was Rs.312.99 lakh as at 31.3.2005. The applicant has also placed on record a copy each of the annual accounts for the years 2000-01 to 2004-05, based on which the applicant's net worth works out as under:
(3.) IT is noted that the applicant's net worth tabulated above for the years 2000-01 to 2004-05 is represented as under:
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