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“It is an established legal principle that any administrative action / order does not absolve a party to a valid and subsisting Power Purchase Agreement from discharging its obligation under the PPA.”
EBC Author and Partner at Fox Mandal & Associates, Saurabh Bindal has been appointed as an Adjunct Professor of Law at Manipal
Supreme Court said that a deviation from the plain terms of the contract is warranted only when it serves business efficacy better
In accordance with Regulation 3(3) of the Trading Licence Regulations, for a person applying for Category `IV`, a trading licence should have a net worth of Rs. 10 crore and should have maintained minimum current ratio and liquidity ratio of 1:1, as on date of audited balance sheet accompanying the application.
Supreme Court has requested the Union of India along with Ministry of Power to evolve a mechanism so as to ensure timely payment by the DISCOMS to the Generating Companies, which would avoid huge carrying cost to be passed over to the end consumers.