Rediff Logo
Money
Line
Channels:   Astrology | Contests | E-cards | Money | Movies | Romance | Search | Women
Partner Channels:    Auctions | Health | Home & Decor | Tech Education | Jobs | Matrimonial
Line
Home > Money > PTI > Report
February 21, 2002 | 2025 IST
Feedback  
  Money Matters

 -  'Investment
 -  Business Headlines
 -  Corporate Headlines
 -  Business Special
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      






 Special Offer

 Gift your parents
 good health


 Special Offer

 Why & How to
 follow Vastu



 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page Best Printed on  HP Laserjets

HC order on DPC-MERC dispute on March 5

Bombay high court on Thursday reserved until March 5 its order on a petition moved by Enron's Dabhol Power Company, challenging powers of Maharashtra Electricity Regulatory Commission to adjudicate its dispute with Maharashtra State Electricity Board.

Arguments concluded before Justice Ajit Shah and Vijaya Tahilramani who decided to deliver verdict on March 5.

On behalf of MSEB, Advocate General, Goolam Vahanvati, said MERC had powers to regulate PPA as well as adjudicate DPC's dispute with MSEB over non-payment of dues.

He said after the enactment of Electricity Regulation Act, 1998, the electricity regulatory commissions in various states derived powers to modify power purchase agreements entered into by private parties with the government on sale of power to consumers.

DPC's counsel P Chidambaram, however, argued that the act came into existence only in 1998 whereas the PPA between DPC and MSEB was signed in 1993. Therefore, provision for regulation of PPA under the act was redundant.

Vahanvati, on the other hand, submitted that provisions of the act had restropective effect and hence MERC had the jurisdiction to adjudicate DPC's dispute with MSEB just as it was empowered to regulate or modify the PPA.

Vahanvati opined that DPC was not justified in moving a writ petition before the high court challenging MERC's powers to adjudicate DPC's dispute with MSEB. The only way for DPC to seek redressal of its grievance was to move the court in appeal against MERC's order on this issue.

YOU MAY ALSO WANT TO READ:
The Enron Saga
The Rediff Budget Special
Run-Up To The Budget

Back to top
(c) Copyright 2000 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Tell us what you think of this report

ADVERTISEMENT