JUDGMENT

PER HON’BLE MR. VIRENDER BHAT, JUDICIAL MEMBER

1. The Appellant – M/s Swasti Power Engineering Ltd. is aggrieved by the order dated 15^th January, 2019 passed by 1^st Respondent Punjab State Electricity Regulatory Commission (hereinafter referred to as “the Commission”) in Petition N. 55 of 2017 filed by 2^nd Respondent – PTC India Limited (in short “PTC”) thereby:-

(a) Declaring the letter dated 9^th March, 2011 issued by Appellant for termination of power purchase agreement (PPA) dated 24^th August, 2005 executed between the Appellant and PTC as invalid;

(b) Declaring the PPA dated 3^rd July, 2009 executed between the Appellant and Uttarakhand Power Corporation Limited (UPCL) as vide ab initio;

(c) Directing Appellant to specifically perform its obligations under the PPA dated 24^th August, 2005 executed with PTC.

2. The Appellant has assailed these declarations/directions of the Commission in this appeal.

3. The Appellant, a company incorporated under the provisions of Companies Act, 1956 is a power generator and has developed, implemented and commissioned 3x7.5 MW (22.5 MW) Bhilangana Hydro Project in the State of Uttarakhand.

4. The 2^nd Respondent – PTC is a licensed entity to under