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1 - 10 of 22 (0.21 seconds)Section 63 in The Companies Act, 1956 [Entire Act]
Ptc India Ltd vs Central Electricity Reg. Comm. ... on 15 March, 2010
24. The second respondent, however, argues that since there was no
amendment to the PPA, which had been approved by the State Commission,
the terms as to applicable tariff cannot be treated as having undergone a
change, this being impermissible for the parties to do on their own. It is
pointed out that by the directions in Order dated 29.07.2016, the levelized
tariff of Rs. 4.91/kWh had been adopted which consequently became a
condition of the approved PPA. Referring to the Statement of Objects and
Appeal No. 321 of 2021 Page 15 of 20
Reasons for enactment of the Electricity Act and rulings of the Hon'ble
Supreme Court in PTC India Ltd. v. Central Electricity Regulatory
Commission (2010) 4 SCC 603 and India Thermal Power Ltd. v. State of
M.P. (2000) 3 SCC 379, as indeed judgments of this tribunal in Appeal no.
82 of 2011 Essar Power Limited v. Uttar Pradesh Electricity Regulatory
Commission & ors. (16.12.2011); Appeal no. 210 of 2014 Indian Wind Power
Association v. Maharashtra Electricity Regulatory Commission & anr.
(26.02.2016); Appeal no. 112 of 2012 Tamil Nadu Generation and
Distribution Corporation Ltd. v. M/s Penna electricity Ltd. (10.07.2013); and
Appeal no. 51 of 2011 Rutwik Energy Generation Private Limited v.
Karnataka Power Transmission Corporation & ors. (21.10.2011), it is argued
that the tariff determination is carried out by the Regulatory Commission
under Sections 61 & 64, 79 & 86, consequential inclusion of the financial
terms in the PPA giving it a statutory flavour, no modification of any term
being permitted unless approved by the Regulatory Authority, reliance also
being placed on Clause 15.3 (on subject of amendment) of the PPA. The
sum and substance of the argument is that since there is no formal
amendment of the PPA so as to reflect the discounted price, it having been
offered unilaterally, its withdrawal cannot be questioned.
Essar Power Limited vs Uttar Pradesh Electricity Regulatory ... on 16 December, 2011
24. The second respondent, however, argues that since there was no
amendment to the PPA, which had been approved by the State Commission,
the terms as to applicable tariff cannot be treated as having undergone a
change, this being impermissible for the parties to do on their own. It is
pointed out that by the directions in Order dated 29.07.2016, the levelized
tariff of Rs. 4.91/kWh had been adopted which consequently became a
condition of the approved PPA. Referring to the Statement of Objects and
Appeal No. 321 of 2021 Page 15 of 20
Reasons for enactment of the Electricity Act and rulings of the Hon'ble
Supreme Court in PTC India Ltd. v. Central Electricity Regulatory
Commission (2010) 4 SCC 603 and India Thermal Power Ltd. v. State of
M.P. (2000) 3 SCC 379, as indeed judgments of this tribunal in Appeal no.
82 of 2011 Essar Power Limited v. Uttar Pradesh Electricity Regulatory
Commission & ors. (16.12.2011); Appeal no. 210 of 2014 Indian Wind Power
Association v. Maharashtra Electricity Regulatory Commission & anr.
(26.02.2016); Appeal no. 112 of 2012 Tamil Nadu Generation and
Distribution Corporation Ltd. v. M/s Penna electricity Ltd. (10.07.2013); and
Appeal no. 51 of 2011 Rutwik Energy Generation Private Limited v.
Karnataka Power Transmission Corporation & ors. (21.10.2011), it is argued
that the tariff determination is carried out by the Regulatory Commission
under Sections 61 & 64, 79 & 86, consequential inclusion of the financial
terms in the PPA giving it a statutory flavour, no modification of any term
being permitted unless approved by the Regulatory Authority, reliance also
being placed on Clause 15.3 (on subject of amendment) of the PPA. The
sum and substance of the argument is that since there is no formal
amendment of the PPA so as to reflect the discounted price, it having been
offered unilaterally, its withdrawal cannot be questioned.
Indian Wind Power Association vs Central Electricity Regulatory ... on 9 November, 2021
24. The second respondent, however, argues that since there was no
amendment to the PPA, which had been approved by the State Commission,
the terms as to applicable tariff cannot be treated as having undergone a
change, this being impermissible for the parties to do on their own. It is
pointed out that by the directions in Order dated 29.07.2016, the levelized
tariff of Rs. 4.91/kWh had been adopted which consequently became a
condition of the approved PPA. Referring to the Statement of Objects and
Appeal No. 321 of 2021 Page 15 of 20
Reasons for enactment of the Electricity Act and rulings of the Hon'ble
Supreme Court in PTC India Ltd. v. Central Electricity Regulatory
Commission (2010) 4 SCC 603 and India Thermal Power Ltd. v. State of
M.P. (2000) 3 SCC 379, as indeed judgments of this tribunal in Appeal no.
82 of 2011 Essar Power Limited v. Uttar Pradesh Electricity Regulatory
Commission & ors. (16.12.2011); Appeal no. 210 of 2014 Indian Wind Power
Association v. Maharashtra Electricity Regulatory Commission & anr.
(26.02.2016); Appeal no. 112 of 2012 Tamil Nadu Generation and
Distribution Corporation Ltd. v. M/s Penna electricity Ltd. (10.07.2013); and
Appeal no. 51 of 2011 Rutwik Energy Generation Private Limited v.
Karnataka Power Transmission Corporation & ors. (21.10.2011), it is argued
that the tariff determination is carried out by the Regulatory Commission
under Sections 61 & 64, 79 & 86, consequential inclusion of the financial
terms in the PPA giving it a statutory flavour, no modification of any term
being permitted unless approved by the Regulatory Authority, reliance also
being placed on Clause 15.3 (on subject of amendment) of the PPA. The
sum and substance of the argument is that since there is no formal
amendment of the PPA so as to reflect the discounted price, it having been
offered unilaterally, its withdrawal cannot be questioned.
Rithwik Energy Generation Private ... vs Karnataka Power Transmission ... on 21 October, 2011
24. The second respondent, however, argues that since there was no
amendment to the PPA, which had been approved by the State Commission,
the terms as to applicable tariff cannot be treated as having undergone a
change, this being impermissible for the parties to do on their own. It is
pointed out that by the directions in Order dated 29.07.2016, the levelized
tariff of Rs. 4.91/kWh had been adopted which consequently became a
condition of the approved PPA. Referring to the Statement of Objects and
Appeal No. 321 of 2021 Page 15 of 20
Reasons for enactment of the Electricity Act and rulings of the Hon'ble
Supreme Court in PTC India Ltd. v. Central Electricity Regulatory
Commission (2010) 4 SCC 603 and India Thermal Power Ltd. v. State of
M.P. (2000) 3 SCC 379, as indeed judgments of this tribunal in Appeal no.
82 of 2011 Essar Power Limited v. Uttar Pradesh Electricity Regulatory
Commission & ors. (16.12.2011); Appeal no. 210 of 2014 Indian Wind Power
Association v. Maharashtra Electricity Regulatory Commission & anr.
(26.02.2016); Appeal no. 112 of 2012 Tamil Nadu Generation and
Distribution Corporation Ltd. v. M/s Penna electricity Ltd. (10.07.2013); and
Appeal no. 51 of 2011 Rutwik Energy Generation Private Limited v.
Karnataka Power Transmission Corporation & ors. (21.10.2011), it is argued
that the tariff determination is carried out by the Regulatory Commission
under Sections 61 & 64, 79 & 86, consequential inclusion of the financial
terms in the PPA giving it a statutory flavour, no modification of any term
being permitted unless approved by the Regulatory Authority, reliance also
being placed on Clause 15.3 (on subject of amendment) of the PPA. The
sum and substance of the argument is that since there is no formal
amendment of the PPA so as to reflect the discounted price, it having been
offered unilaterally, its withdrawal cannot be questioned.
Chrisomar Corporation vs Mjr Steels Private Limited on 14 September, 2017
28. it is trite that where the parties to a contract mutually agree to "alter" a
contract, a new contract emerges containing, in entirety, the old terms along
with the new terms, as modifying the old terms [Chrisomar Corpn. v. MJR
Steels (P) Ltd. (2018) 16 SCC 117].
Har Shankar & Ors. Etc. Etc vs The Dy. Excise & Taxation Commr. & Ors on 21 January, 1975
It
is well settled proposition of law that the performance having become
commercially onerous cannot be a good reason to permit a party to resile
from its contractual obligation [Har Shankar v. Deputy Excise and Taxation
Commissioner (1975) 1 SCC 737 and GMR Airport Limited v. Mihan India
Limited 2021 SCC Online Bom 2132].
Gmr Airports Ltd. Through Aurthorised ... vs Mihan India Ltd. Thr. Chairman And ... on 18 August, 2021
It
is well settled proposition of law that the performance having become
commercially onerous cannot be a good reason to permit a party to resile
from its contractual obligation [Har Shankar v. Deputy Excise and Taxation
Commissioner (1975) 1 SCC 737 and GMR Airport Limited v. Mihan India
Limited 2021 SCC Online Bom 2132].