MALAXMI ENERGY TRADING PRIVATE 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 as category `A` electricity trader. In response to the notices published by the applicant 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, 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. 1.5 crore in case of the applicant who proposed to trade up to 100 MUs of electricity in a year. In the application, the applicant furnished the details of its share-holding of Rs. 150.00 lakh. Based on the details furnished by the applicant, it was established that the applicant had the required net worth. Accordingly, the applicant qualifies for grant of licence for inter-State trading in electricity as a category `A` electricity trader, that is, for trading up to 100 MUs of electricity in a year.
On the above considerations, the Commission proposed to grant licence to the applicant as prayed for. A notice under Clause (a) Sub-section (5) of Section 15 of the Act was published inviting suggestions/objections to the above proposal of the Commission. No suggestion or objections have been received in response to the notice issued by the Commission.
(3.) IN view of the above, we direct that the applicant be issued the licence for inter-State trading in electricity as category `A` electricity trader for trading in whole of INdia, except the State of Jammu & Kashmir. The issue of licence shall be subject to the applicant in future complying with the provisions of the Act, the rules framed by the Central Government and the regulations specified by the Commission from time to time in all respects.;
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