Section 30(7) in Central Electricity Regulatory Commission (Power Market) Regulations, 2010
(7)under any other circumstances as may be decided by the Power Exchange or Clearing Corporation from time to time.Provided that Power Exchange or Clearing Corporation may, at its discretion, stipulate any additional criteria to declare defaulter in the Power Exchange or the Clearing Corporation as the case may be(ii)In the event a member is declared a defaulter and the member fails to meet the clearing and settlement obligations, the Power Exchange shall give precedence to the payment of transmission charges, scheduling and system operation charges from the deposits of the member or client as the case may be. Thereafter the Power Exchange may utilise the Settlement Fund and other monies to the extent necessary to eliminate the obligation of the defaulting member in the following order-
