IN THE APPELLATE TRIBUNAL FOR ELECTRICITY NEW DELHI (APPELLATE JURISDICTION) APPEAL NO. 133 OF 2019 Dated: 29^th April 2022 Present: Hon’ble Mr. Justice R.K. Gauba, Officiating Chairperson Hon’ble Mr. Sandesh Kumar Sharma, Technical Member In the matter of:

GUJARAT URJA VIKAS NIGAM LIMITED Sardar Patel Vidyut Bhavan Race Course, Vadodara – 390 007 …. Appellant(s)

VERSUS

1. APRAAVA ENERGY PRIVATE LIMITED (Formerly known as, CLP India Private Limited)

Regd Office

6^th Floor, Chanakya Building, Off. Ashram Road Ahmedabad – 380 009 Corporate Office

7^th Floor, Fulcrum, Sahar Road Andheri (East)

Mumbai 400 099

2. GUJARAT ELECTRICITY REGULATORY COMMISSION

1^st Floor, Neptune Tower, Opp. Nehru Bridge, Ashram Road Ahmedabad – 380 009 … Respondents Counsel for the Appellant (s) : Mr. Anand K. Ganesan Ms. Srishti Khindaria Ms. Harsha Manav Counsel for the Respondent (s) : Mr. Amit Kapur Mr. Janmali Manikala Ms. Priyanka Vyas Ms. Sudipta Mukhopadhyay Ms. Bitika Kaur (Dy. Legal Counsel)

for R-1 Mr. Pallav Mongia Mr. Tushar Srivastava Mr. Ankush Mangal for R-2

J U D G M E N T

PER HON'BLE MR. JUSTICE R.K. GAUBA, OFFICIATING CHAIRPERSON

1. The dispute relates to parties including the appellant Gujarat Urja Vikas Nigam Ltd (hereinafter “GUVNL” or “the appellant” or “the procurer”) and the first respondent Apraava Energy Private Limited - formerly known as CLP India Pvt Ltd - (hereinafter “Apraava” or “the first respondent” or “the generator”), who are bound by terms of the Power Purchase Agreement dated 03.02.1994 (“the PPA”) which was amended twice by subsequent agreements i.e. First Supplementary Power Purchase Agreement dated 05.12.2003 (“Supplementary PPA-I”) and then the Second Supplementary Power Purchase Agreement dated 26.02.2014 (“Supplementary PPA-II”), wherein latter (Apraava) is the generator of electricity (using gas/Naphtha as fuel) while the former (GUVNL) is the procurer. The generator has undergone change of name more than once, the last such change being during pendency of this appeal on 27.08.2021, the Registrar of Companies having issued a fresh Certificate of Incorporation pursuant to name change on 29.09.2021, this having resulted in cause title being amended (by IA no. 1821 of 2021 submitted on 11.11.2021).

2. The controversy at hand had arisen on account of the appellant GUVNL having made deduction of Rs. 65.53 crores, including on account of Delayed Payments Charges (“DPC”) of Rs. 3.51 Crores, and towards Interest on Working Capital (“IWC”) from the monthly bills for July, August and December 2013 against amounts paid by GUVNL i.e. for the months prior to November 2013, followed by Rebate of Rs 31.73 lakhs deducted from invoices raised for the period November 2013 to January 2014 (collectively referred to as “the Deducted Amounts”). The Petition No. 1433 of 2014 filed by Apraava has resulted in Order dated 31.07.2015 (“the impugned Order”) passed by Gujarat Electricity Regulatory Commission (“GERC”), holding that the deductions made by GUVNL from amounts due and payable to the first respondent Apraava are contrary to the terms of the the PPA and the Supplementary PPA-I”), GUNVL having been directed to refund the Deducted Amounts to Apraava including DPC of Rs. 3.51 Crores in terms of Article 6.3(c) of the PPA, it having been computed as Rs. 114,18,67,073/- (Rupees One Hundred and Fourteen Crores Eighteen Lakhs Sixty-Seven Thousand and Seventy-Three only), inclusive of DPC amounting to Rs. 48,65,31,509/- (Rupees Forty-Eight Crores Sixty-Five Lakhs Thirty-One Thousand and Fifty-Nine only), as on 31.03.2022.

3. The impugned order was rendered primarily following the previous ruling of this tribunal in earlier dispute between the same set of parties against the backdrop of same contractual arrangement in appeal (No. 37 of 2014) GUVNL v. GERC & Anr. (Appeal) decided by judgement dt. 03.03.2015 (hereinafter referred to as “the IWC Judgement”). The prime questions raised by the appellant to assail the impugned order are as to whether IWC has