IN RE: JAY POLYCHEM (INDIA) LTD. Vs. STATE

JUDGEMENT

(1.) BY order dated 13.1.2011, Jay Polychem (India) Ltd. (hereinafter referred to as 'licensee') was granted trading licence for Category 'I' to trade in electricity as an electricity trader in the whole of India, in terms of Regulation 6 of the Central Electricity Regulatory Commission (Procedure, Terms and Conditions for grant of trading licence and other related matters) Regulations, 2009 (hereinafter referred to as "Trading Licence Regulations") amended from time to time. Subsequently, vide order dated 23.8.2012 in Petition No. 173/Com/2012 licence of the petitioner was downgraded from Category I to Category III. The licensee vide its affidavit dated 23.9.2013 has submitted that due to recession and stiff competition and volatility and uncertainty for power trading it is unable to undertake the trading activities. The licensee has further confirmed that it does not have any liability against its inter -State trading licence. The licensee has requested to waive the licence fee for the period 2013 -14 and exempt it to comply with Regulation 14(3) of the Trading Licence Regulations.

(2.) REGULATION 14(3) of the Trading Licence Regulations provides as under:

(3.) THE licensee has requested to waive payment of licence fee for the year 2013 -14 and exempt it to comply with Regulation 14(3) of the Trading Licence Regulations. As the licensee has not been able to undertake any trading and considering the fact that publication of notice for revocation of licence will add further financial liability on the petitioner, we waive the requirement of publication. As regard the request for waiver of licence fee, we notice that the licensee has requested for revocation of licence on 30.4.2013 and surrendered the licence issued to it. Therefore, in exercise of our power under regulation 17 of the Trading Licence Regulations, we waive the requirement of payment of fees for the year 2013 -14.