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Tamil Nadu Electricity Regulatory Commission (for short ‘TNERC’) and the APTEL have concurrently found in favour of the respondent. It has been held that ... calculated as per the formula pursuant to Section 7.3.” FINDINGS OF THE TNERC:- 5. The TNERC recorded the following findings: - Page

This is also evident from a perusal of Format-5 formulated by TNERC as a part of the impugned order, which also specifically contemplates verification