(1.) This appeal, under Section 125 of the Electricity Act 2003, is against a judgment and order dated 27th April 2021 passed by the Appellate Tribunal for Electricity, hereinafter referred to, in short, as 'APTEL', dismissing Appeal No.77 of 2018 filed by the Appellant, Maharashtra State Electricity Distribution Company Ltd., and affirming an order dated 16th November, 2017 passed by the Maharashtra Electricity Regulatory Commission, hereinafter referred to, in short, as 'MERC', whereby MERC dismissed the petition filed by the Appellant under Section 86 of the Electricity Act, being Case No.24 of 2017, rejecting the contention of the Appellant that, introduction by Reserve Bank of India of the Base Rate system and the Marginal Cost of Funds Based Lending Rate system constituted a change in law, within the meaning of the expression 'Change in Law' as defined in the respective Power Purchase Agreements between the Appellant and the Respondent Nos.2, 3, 4 and 5, hereinafter collectively referred to as the "Power Generating Companies", so as to alter the rate of Late Payment Surcharge(LPS) payable by the Appellant to the Power Generating Companies under the respective Power Purchase Agreements.
(2.) The Appellant, incorporated under the Companies Act, 1956, pursuant to the decision of the Government of Maharashtra to reorganize erstwhile Maharashtra State Electricity Board, is a Distribution Licensee under the provisions of the Electricity Act, 2003, with license to supply electricity all over the State of Maharashtra, except some parts of the city of Mumbai. The Appellant is a bulk purchaser of electricity from generators of electricity.
(3.) The Appellant had, from time to time, issued Tender Notices, inviting bids for bulk supply of electricity to the Appellant, pursuant to which, the Power Generating Companies submitted their bids.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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