JUDGMENT :

INDIRA BANERJEE, J.

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 ra