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                              KwH                                            (MU)    KwH
                      (MU)
1     CGPL            514     2.40   MSED              1      CGPL           4990    2.43   MSED
                       9              CL                                                      CL
                                     Order                                                  Order
2     NPCIL           421     2.50   MSED              2      Maharashtr     861     2.64   Intern
                       0              CL                      a State                         al
                                     Order                    Electricity                    CUP
                                                              Distribution
                                                              co. Ltd.
3     JSW             174     2.60   MSED              3      Dodson          83     2.65   MSED
                       2              CL                                                     CL
                                     Order                                                  Order

                                                   I.T.A. No. 476 & 2 106 /Mum/2022
                                                        Reliance Infrastructure Limited

4    Indian Energy     872    2.84   Intern        4     NTPC           30116   2.75   MSED
     Exchange Ltd                      al                                                CL
                                      CUP                                              Order
5    Knowledge         13     3.02   Intern        5     JSW            1899    2.89   MSED
     Infrastructure                    al                                                CL
     System                           CUP                                              Order
6    PTC India Ltd     34     3.03   Intern        6     NPCIL          2591    2.9    MSED
                                       al                                                CL
                                      CUP                                              Order
7    NTPC              274    3.06   MSED          7     PTC India       26     3.43   Intern
                        12             CL                Ltd                             al
                                     Order                                              CUP
8    Maharashtra       820.   3.14    TPO          8     MSPGCL-        48843   3.56   MSED
     State              98                               Thermal                         CL
     Electricity                                                                       Order
     Board
9    JSW Power         27     3.15   Intern        9     Indian         1628    3.84   Intern
     Trading Co.                       al                Energy                          al
     Ltd                              CUP                Exchange                       CUP
                                                         Ltd
10   Adani Power       172    3.35   MSED          10    Adani          17257   3.85   MSED
                        94             CL                Power                           CL
                                     Order                                             Order
11   EMCO Power        147    4.07   MSED          11    EMCO           1261    3.93   MSED
                        5              CL                Power                           CL
                                     Order                                             Order
12   MSPGCL-           384    4.08    TPO          12    JSW Power       208    4.18   Intern
     Thermal            45                               Trading Co.                     al
                                                         Ltd                            CUP
13   Jindal Steel      44     4.67   Intern        13    Dhariwal         1     4.2    Intern
     and Power Ltd                     al                Infrastructu                    al
                                      CUP                re Ltd.                        CUP
14   The Brihan        219    4.92    TPO          14    Power            1     4.83   Intern
     Mumbai             0                                Exchange                        al
     Electric Supply                                     India Ltd.                     CUP
     & Transport
     Undertaking
15   Rattan India      170    8.62   MSED          15    Rattan         4347    4.96   MSED
                        1             CL                 India                           CL
                                     Order                                             Order
                                                   16    The Brihan     2200    5.16    TPO
                                                         Mumbai
                                                         Electric
                                                         Supply &
                                                         Transport
                                                         Undertakin
                                                         g
     Comparable                                          Comparabl


                                                                 I.T.A. No. 476 & 2 106 /Mum/2022
                                                                    Reliance Infrastructure Limited

                                                                                                              Ran
      Particulars                        Place   Range               Particulars                      Place
                                                                                                               ge
                                                                     35th
      35th Percentile                    6th     3.03                                                 6th     2.90
                                 5.25                                Percentile                 5.6
                                                                     65th
      65th Percentile                    10th    3.35                                                 11th    3.93
                                 9.75                                Percentile                10.4
                                                 3.03                                                         2.90
      Range                                       to                 Range                                     to
                                                 3.35                                                         3.93
      Reliance                                                       Reliance
      Infrastructure                             3.24                Infrastructu                             3.03
      Ltd                                                            re Ltd

                              KwH                                            (MU)
                                                         o.
1      CGPL            5149   2.40      MSEDCL               1   CGPL        4990    2.43        MSEDC
                                         Order                                                   L Order
2      NPCIL           4210   2.50      MSEDCL               2   NTPC       30116    2.75        MSEDC
                                         Order                                                   L Order
3      NTPC         27412     3.06      MSEDCL               3   NPCIL       2591     2.9        MSEDC
                                         Order                                                   L Order
4      Adani        17294     3.35      MSEDCL               4   MSPGC      48843    3.56        MSEDC
       Power                             Order                   L-                              L Order
                                                                 Therma
                                                                 l
5      MSPGCL       38445     4.08       TPO                 5   Adani      17257    3.85        MSEDC
       -                                                         Power                           L Order
       Thermal
6      The             2190   4.92       TPO                 6   Rattan      4347    4.96        MSEDC
       Brihan                                                    India                           L Order
       Mumbai
       Electric
       Supply &
       Transpor
       t
       Underta
       king
                                                             7   The         2200    5.16         TPO
                                                                 Brihan
                                                                 Mumba
                                                                 i
                                                                 Electric
                                                                 Supply
                                                                 &
                                                                 Transp

                                                            I.T.A. No. 476 & 2 106 /Mum/2022
                                                                 Reliance Infrastructure Limited

                                                            ort
                                                            Undert
                                                            aking
       Compar                                               Compa
       able                                                 rable


                                                                                                          Ra
       Particul                                   Rang                  Particu
                                     Place                                                    Place       ng
       ars                                         e                    lars
                                                                                                           e
       35th                                                             35th
                                                                                                         2.9
       Percentil                        3rd       3.06                  Percent                3rd

       e                       2.1                                      ile          2.45
       65th                                                             65th
                                                                                                         3.8
       Percentil                        4th       3.35                  Percent                5th

       e                       3.9                                      ile          4.55
                                                                                                         2.9

       Range                                       to                   Range                             to
                                                  3.35                                                   3.8

                                                                        Relianc
       Reliance                                                         e
                                                                                                         3.0
       Infrastru                                  3.24                  Infrastr

       cture Ltd                                                        ucture
                                                                        Ltd




                                 KwH                                                (MU)    KwH
1     NPCIL           4210       2.50       MSEDCL           1    Maharashtra       861     2.64      Internal
                                             Order                State                                 CUP
                                                                  Electricity
                                                                  Distribution
                                                                  co. Ltd.
2     JSW             1742       2.60       MSEDCL           2    NTPC             30116    2.75      MSEDCL
                                             Order                                                     Order
3     Indian          872        2.84       Internal         3    JSW              1899     2.89      MSEDCL
      Energy                                  CUP                                                      Order
      Exchange Ltd
4     NTPC           27412       3.06       MSEDCL           4    NPCIL            2591     2.9       MSEDCL
                                             Order                                                     Order
5     Maharashtra    820.98      3.14          TPO           5    MSPGCL-          48843    3.56      MSEDCL
      State                                                       Thermal                              Order
      Electricity
      Board

                                                               I.T.A. No. 476 & 2 106 /Mum/2022
                                                                    Reliance Infrastructure Limited

6      Adani Power        17294        3.35     MSEDCL                  6        Indian              1628     3.84      Internal
                                                 Order                           Energy                                   CUP
                                                                                 Exchange
                                                                                 Ltd
7      EMCO Power             1475     4.07     MSEDCL                  7        Adani           17257        3.85      MSEDCL
                                                 Order                           Power                                   Order
8      MSPGCL-            38445        4.08      TPO                    8        EMCO                1261     3.93      MSEDCL
       Thermal                                                                   Power                                   Order
9      The Brihan             2190     4.92      TPO                    9        JSW Power           208      4.18      Internal
       Mumbai                                                                    Trading Co.                              CUP
       Electric                                                                  Ltd
       Supply &
       Transport
       Undertaking
10     Rattan India           1701     8.62     MSEDCL                  10       Rattan              4347     4.96      MSEDCL
                                                 Order                           India                                   Order
                                                                        11       The Brihan          2200     5.16       TPO
                                                                                 Mumbai
                                                                                 Electric
                                                                                 Supply &
                                                                                 Transport
                                                                                 Undertakin
                                                                                 g
       Comparable                                                                Comparabl


                                                                              Particular                                  Rang
       Particulars                               Place   Range                                                 Place
                                                                              s                                            e
       35th                                                                   35th
                                                 4th      3.06                                                    4th      2.90
       Percentile                        3.5                                  Percentile               3.85
       65th                                                                   65th
                                                 7th      4.07                                                    8th      3.93
       Percentile                        6.5                                  Percentile               7.15
                                                          3.06                                                             2.90
       Range                                               to                 Range                                         to
                                                          4.07                                                             3.93
       Reliance                                                               Reliance
       Infrastructur                                      3.24                Infrastruct                                  3.03
       e Ltd                                                                  ure Ltd


                                KwH                                                 (MU)       Kw
o                                                             o.
                                                                                                H
.
1 NPCIL                4210     2.50   MSEDCL                 1    Maharash         861        2.6     Internal
                                        Order                      tra State                    4        CUP
                                                                   Electricity

                                                       I.T.A. No. 476 & 2 106 /Mum/2022
                                                            Reliance Infrastructure Limited

                                                           Distributio
                                                           n co. Ltd.
2 JSW            1742     2.60   MSEDCL                2   NTPC          30116   2.7   MSEDCL
                                  Order                                           5     Order
3 NTPC           27412    3.06   MSEDCL                3   JSW           1899    2.8   MSEDCL
                                  Order                                           9     Order
4 Maharashtr     820.98   3.14    TPO                  4   NPCIL         2591    2.9   MSEDCL
  a State                                                                               Order
  Electricity
  Board
5 Adani          17294    3.35   MSEDCL                5   MSPGCL-       48843   3.5   MSEDCL
  Power                           Order                    Thermal                6     Order
6 EMCO           1475     4.07   MSEDCL                6   Adani         17257   3.8   MSEDCL
  Power                           Order                    Power                  5     Order
7 MSPGCL-        38445    4.08    TPO                  7   EMCO          1261    3.9   MSEDCL
  Thermal                                                  Power                  3     Order
8 The Brihan     2190     4.92    TPO                  8   JSW           208     4.1   Internal
  Mumbai                                                   Power                  8      CUP
  Electric                                                 Trading
  Supply &                                                 Co. Ltd
  Transport
  Undertakin
  g
9 Rattan         1701     8.62   MSEDCL                9   Rattan        4347    4.9   MSEDCL
  India                           Order                    India                  6     Order
                                                       1   The           2200    5.1    TPO

                                                           Mumbai
                                                           Electric
                                                           Supply &
                                                           Transport
                                                           Undertaki
                                                           ng
  Comparabl                                                Comparab


                                                           Particular
  Particulars                     Place   Range                                         Place     Range
                                                           s
  35th                                                     35th
                                  4th     3.14                                           4th       2.90
  Percentile              3.15                             Percentile            3.5
  65th                                                     65th
                                  6th     4.07                                           7th       3.93
  Percentile              5.85                             Percentile            6.5
                                          3.14
                                                                                                  2.90 to
  Range                                    to              Range
                                                                                                   3.93
                                          4.07
  Reliance                                                 Reliance
  Infrastructu                            3.24             Infrastruct                             3.03
  re Ltd                                                   ure Ltd

                                       I.T.A. No. 476 & 2 106 /Mum/2022
                                          Reliance Infrastructure Limited