Petition No. 322/2009. Case: In Re: B.S. Transcomm Ltd. Vs. Central Electricity Regulatory Commission
| Case Number | Petition No. 322/2009 |
| Judges | Pramod Deo, Chairperson, S. Jayaraman, V.S. Verma and M. Deena Dayalan, Members |
| Issue | Electricity Law |
| Judgement Date | August 19, 2011 |
| Court | Central Electricity Regulatory Commission |
Order:
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The applicant, BS TransComm Limited, 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 (36 of 2003) (the Act) read with Central Electricity Regulatory Commission (Procedure, Terms and Conditions for grant of Trading licence and other related matters) Regulations, 2009 (hereinafter referred to as 'the trading licence Regulations') for grant of Category- III licence for inter-State trading in electricity in whole of India. The notices in accordance with Sub-section (2) of Section 15 of the Act read with Clause (4) of Regulation 6 of the trading licence Regulations were published by the applicant on 1.1.2010. In response to the said public notice, No. objections have been received.
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In accordance with Regulation 3 (3) of the trading licence Regulations, a person applying for Category-III trading licence should have net worth of ` 5 crore, and should have maintained minimum current ratio and liquidity ratio of 1:1, consistently for three years immediately preceding the year in which the application is made or such lesser period during which the applicant has been incorporated, registered or formed. The applicant was incorporated on 7.2.2008 and had submitted the Special Balance Sheet as on 31.3.2011. Based on the details furnished by the applicant, it was established that the applicant had the required net worth, current ratio and liquidity ratio at the time of making of the application. Accordingly, the Commission came to the conclusion that the applicant prima-facie qualified for grant of licence for inter-State trading in electricity as a category-III electricity trader.
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On the above considerations, the Commission vide its order dated 22.7.2011 had proposed to grant Category-III trading licence to the applicant. A notice under Clause (a) Sub-section (5) of Section 15 of the Act was published on 28.3.2011 in all editions of Times of India, Hindustan Times and Dainik Jagran inviting suggestions/objections to the above proposal of the Commission.
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In response to public notice published by the Commission, Shri S. Babu Gowthaman, 17-B/104, Kaveri, Adi Shankaracharacharya Marg, MHADA Powai, Mumbai- 400 076 has filed objections vide its letter dated 1.8.2011 as under:
(i) The applicant has not posted its application for grant of inter-State trading licence on its website;
(ii) The applicant has not posted its plan to venture into...
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