Section 44 in Regular Licence under Haryana Electricity Regulatory Reforms Act
44. Objection.
- HVPN proposes to delete Condition 6, which requires HVPN to inform the Commission of any attempted acquisition of a Controlling Interest in the Company and prohibits it from giving effect to any such acquisition not approved by the Commission. The stated rationale is that the Act does not contemplate that the Commission would control ownership of the company. At the hearing, HVPN further argued that it could not lawfully refuse to recognise a transfer of the ownership of its shares.
