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Karnataka Power Transmission ... vs Jsw Energy Limited on 22 November, 2022

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     ITEM NO.1501                             COURT NO.4                 SECTION IV-A
     (For Judgment)
                                  S U P R E M E C O U R T O F      I N D I A
                                          RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C)                  No.18607/2004

     (Arising out of impugned final judgment and order dated 08-04-2004
     in MFA No. 4795/2002 passed by the High Court of Karnataka at
     Bengaluru)

     KARNATAKA POWER TRANSMISSION CORPORATION LIMITED                   PETITIONER(S)

                                                   VERSUS

     JSW ENERGY LIMITED
     (EARLIER KNOWN AS JINDAL
     THERMAL POWER COMPANY
     LIMITED & JINDAL TRACTABEL
     POWER COMPANY LIMITED) & ORS.                                      RESPONDENT(S)

WITH SLP(C) No. 23793/2004 (IV-A) (FOR ON IA 2/2006) Date : 22-11-2022 These matters were called for pronouncement of Judgment today.

For Parties Mr. S. S. Naganand, Sr. Adv.

Mr. Raghavendra S. Srivatsa, AOR Mr. Venkita Subramoniam T.R., Adv. Mr. Pai Amit, Adv.

Mr. Likhi Chand Bonsle, Adv. Ms. Komal Mundhra, Adv.

Mr. Saurabh Agrawal, Adv.

Mr. Rahat Bansal, Adv.

Mr. V. N. Raghupathy, AOR Mr. Mahendra Pal Gupta, Adv. Mr. Dhanesh Ieshdhan, Adv.

Mr. Dhiraj Abraham Philip, Adv. Mr. Rahul Prasanna Dave, AOR Mr. L. Vishwanathan, Adv.

Mr. Ramanuj Kumar, Adv.

Mr. Sumit Attri, Adv.

For M/S. Cyril Amarchand Mangaldas, AOR Digitally signed by Jagdish Kumar Date: 2022.11.22 16:16:07 IST Reason: Hon'ble Mr. Justice K. M. Joseph pronounced the Reportable  2 Judgment for the Bench comprising His Lordship, Hon'ble Mr. Justice Aniruddha Bose and Hon'ble Mr. Justice Hrishikesh Roy.

Leave granted.

The Bench, inter alia, held as follows:-

"118. The appeal filed by Karnataka Power Transmission Corporation Limited is partly allowed and the impugned Judgment shall stand set aside. We find that there was no contract concluded within the meaning of Section 27(2) of the Act. We remand the case back to the High Court for reconsidering the points ‘3’ and ‘4’ formulated by the High Court. The first respondent shall pay to the appellant a sum of Rs.50 crores (fifty crores) within eight weeks. As regards further liability to pay, it will await and depend upon the decision of the High Court. So also, the payment of Rs.50 crores (fifty crores) by the first respondent, under this Judgment, will be subject to the determination to be made by the High Court.

119. The appeal filed by Karnataka Electricity Regulatory Commission will stand allowed to the extent that the remarks made against it in the impugned judgment shall stand set aside as indicated hereinbefore. Parties will bear their respective costs."

Pending application(s), if any, stand disposed of.

(JAGDISH KUMAR) (RENU KAPOOR) COURT MASTER (SH) ASSISTANT REGISTRAR (Common signed Reportable Judgment is placed on the file)