Petition No. 223/TDL/2012. Case: In Re: Green Fields Power Services Pvt. Ltd., Hyderabad Vs. Central Electricity Regulatory Commission
| Case Number | Petition No. 223/TDL/2012 |
| Counsel | For Appellant: Shri S. Venkatraman, GFPSPL |
| Judges | Pramod Deo, Chairperson, S. Jayaraman, Member, V.S. Verma, Member and M. Deena Dayalan, Member |
| Issue | Electricity Act, 2003 - Section 15 |
| Judgement Date | February 08, 2013 |
| Court | Central Electricity Regulatory Commission |
Order:
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The applicant, Green Fields Power Services Pvt. Ltd., Hyderabad, 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) (hereinafter referred to as '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') amended from time to time, for grant of Category 'IV' licence for inter-State trading in electricity in whole of India, except the State of Jammu and Kashmir. 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 29.9.2012. In response to the said public notice, no objections have been received. In accordance with Regulation 3 (3) of the trading licence regulations, a person applying for Category 'IV' trading licence should have net worth of ` 1 crore, and should have maintained minimum current ratio and liquidity ratio of 1:1, as on the date of the audited balance sheet accompanying the application. The applicant was incorporated on 27.6.2008. Based on the balance sheet for the year 2011-12 and special balance sheet as on 31.10.2012, it was established that the applicant had the required net worth, current ratio and liquidity ratio for grant of Category 'IV' trading licence. 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 'IV' electricity trader.
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On the above considerations, the Commission vide its order dated 26.12.2012 had proposed to grant Category 'IV' trading licence to the applicant. A notice under clause (a) sub-section (5) of Section 15 of the Act was published on 13.1.2013 in all editions of Indian Express and Amar Ujala inviting suggestions/objections to the above proposal of the Commission. No suggestions or objections have been received in response to the notice issued by the Commission.
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Clause (9) of Regulation 6 of the trading licence regulations provide as under:
(9) On consideration of further objections or suggestions received and the reply of the applicant thereto, if any, the Commission may grant the licence or reject the application, for reasons to be recorded in writing if...
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