Section 27(7) in Karnataka Electricity Reform Act, 1999
(7)Every licensee shall provide to the Commission, at such time and in such manner, as may be specified in the regulations, full details of its calculations for the ensuing financial year of the expected aggregate revenue from charges, which it believes to have been permitted to recover pursuant to the terms of its licence and such further information, as the Commission may reasonably require to assess such calculations. Within ninety days of the date on which the licensee has furnished all the information, the Commission shall notify either,-(a)that it accepts the licensee's revenue calculations and tariff proposals; or(b)that it does not consider the licensee's revenue calculations and tariff proposals to be in accordance with the methodology or procedure prescribed, and such notice shall,-(i)specify fully the reasons why the Commission considers that the revenue calculations or tariff proposals furnished do not comply with the methodology, specified procedure or are incorrect;(ii)propose a modification or an alternative calculation of the expected revenue from charges, which the licensee shall accept.
