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10. Jammu and Kashmir State Power Development Corporation Limited has been incorporated as a Private Limited Company on 16th February 1995, so as to takeover, JKJ 2017 (2) 371 HC execute, complete, operate and maintain all the power stations and the power projects of the State. For its day to day functioning, earlier the respondent corporation had been utilizing the services of personnel deputed from various government departments. However, it was resolved that the respondent department should take necessary steps for building its own cadre for all its wings, like Engineering, Finance, IT, HR etcetera. The Managing Director of the respondent corporation was authorised to make appointments of 75 Finance Assistants and 25 Steno Typists in the grade of 5200-20200 with the Grade Pay of Rs.2400 on contractual basis for a period of two years, after which they would be considered for regularisation subject to their satisfactory performance. It is discernible from Agenda Item no.65.21 - Appointment of Accounts Staff and Stenographers in JKSPDC (p.28-31 to writ petition) it was proposed to recruit the Finance Assistants from the open market for which a proper selection would be conducted and the Consultants implementing the Project as well as Project Management Consultants for Double Entry Project, had recommended that the said accounts personnel would be called as "Finance Assistant" to differential from the State Government nomenclature of "Accounts Assistants"