Petition No. 161/TDL/2011. Case: In Re: Greta Power Trading Limited, Chennai Vs. Central Electricity Regulatory Commission

Case NumberPetition No. 161/TDL/2011
Party NameIn Re: Greta Power Trading Limited, Chennai Vs
JudgesDr. Pramod Deo, Chairperson, Shri S. Jayaraman, Member, Shri V.S. Verma, Member and Shri M. Deena Dayalan, Member
IssueElectricity Act, 2003 - Section 15
Judgement DateSeptember 03, 2012
CourtCentral Electricity Regulatory Commission

Order:

  1. The applicant, Greta Power Trading Limited, Chennai, 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') 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 6.7.2011. 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, 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 2.3.2011. Based on the financial details submitted by the applicant for the year 2010-11 and as on 31.5.2012, 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.

  2. On the above considerations, the Commission vide its order dated 2.8.2012 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 8.8.2012 in all editions of Times of India, Hindustan Times 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.

  3. 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...

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