JUDGMENT

H.L. Gokhale, J.

1. All these five appeals arise out of a common order dated 20.4.2007 passed by Appellate Tribunal for Electricity (`Appellate Tribunal' for short) while deciding the First Appeals to the Appellate Tribunal under Section 111 of the Electricity Act, 2003 against the orders of the Central Electricity Regulatory Commission (`The Central Commission' for short), dated 1.4.2005, 7.4.2005 and 2.6.2006 passed under Section 62 of the Electricity Act, 2003. While admitting these appeals, this Court has stayed the operation of the impugned order until further orders.

(a) First of these three Civil Appeals are filed by M/s NTPC Ltd. The Madhya Pradesh State Electricity Board (`MPSEB' for short) and others are respondents to this Civil Appeal No.2451/2007. The Punjab State Electricity Board (`PSEB' for short), Delhi Vidyut Board and others are the respondents to the other two appeals being Civil Appeal No.2452/2007 and Civil Appeal No.2493/2007.

(b) Civil Appeals Nos. 3972 and 4231 of 2007 are filed by the PSEB and Delhi Vidyut Board. The Central Commission, M/s NTPC Ltd. and others are the respondents to these two appeals.

2. M/s NTPC Ltd. is a power `generating company