SPECTRUM POWER GENERATION LTD. Vs. POWER GRID CORPORATION OF INDIA LTD., VEMAGIRI TRANSMISSION SYSTEM LTD., REC TRANSMISSION PROJECTS COMPANY LTD. AND SAMALKOT POWER LTD.

JUDGEMENT

(1.) THE petitioner, Spectrum Power Generation Ltd. (hereafter "Spectrum") in the present petition has made the following prayers, namely:

(2.) BASED on an application made by Spectrum, Power Grid Corporation of India, the first respondent, (hereafter "PGCIL") in the capacity of the Central Transmission Utility, granted connectivity for the project at Vemagiri -II Pooling Station vide letter dated 10.12.2010. Spectrum signed with PGCIL the Bulk Power Transmission Agreement dated 24.12.2010 (hereafter "the BPTA") for obtaining LTA for 1350 MW of power. On 5.6.2011 Spectrum furnished a Bank Guarantee for Rs. 67.50 crore to PGCIL as guarantee for the construction period.

(3.) IN the bidding process undertaken by Vemagiri Transmission System Ltd., PGCIL was selected as the successful bidder and the Letter of Intent was issued in its favour on 20.3.2012. The entire equity subscribed by REC Transmission Projects Ltd in Vemagiri Transmission System Ltd was acquired by PGCIL on 18.4.2012. Vemagiri Transmission System Ltd filed Petition No. 127/2012 under Section 63 of the Electricity Act for adoption of tariff for the transmission system discovered through the tariff -based competitive process. Vemagiri Transmission System Ltd. also filed another petition (No. 128/2012) under Section 14 of the Electricity Act for grant of inter -State transmission licence.