( 1 ) THE appellant, namely, Jindal Thermal Power Company Limited is a company incorporated under the provisions of the Companies Act, 1956 engaged in the generation and supply of power in the State of karnataka. Karnataka Power Transmission Corporation Limited (for short, 'the KPTCL'), the first respondent herein, is a Company estab lis hed under the provisions of the Companies Act, 1956 pursuant to the enactment of the Karnataka Electricity Reform Act, 1999 (for short, 'the Act'), whereunder the Karnataka Electricity Board ('the KEB', for short), was trifurcated into three Companies. Respondent 2 is government of Kamataka (Gok ).

( 2 ) PURSUANT to the notifications and the subsequent clarifications issued by the Government of India in March 1992 setting out the norms for determining the tariff payable to the generating Companies, by an order dated 7th March, 1994, approval was granted by Gok to the appellant for setting up a power project of 300 MW and selling power directly to industrial units, with the balance to KPTCL (the erstwhile keb ). As per the tariff fixed according to the norms laid down by government of India (Goi), the order stated various advantages