The grant of a Category 'V' inter-State trading licence is contingent upon the applicant satisfying financial net worth and liquidity criteria, employing qualified professionals in power systems and finance, and completing the mandatory public notice process under the Electricity Act, 2003 and CERC Regulations.

ORDER

The Petitioner, PI Green Consulting Private Limited (hereinafter referred to as “the Applicant”), a Private Limited Company incorporated under the Companies Act, 2013, has made the present Application under Sections 14 and 15 (1) of the Electricity Act, 2003 (hereinafter referred to as “the Act”) read with Regulation 6 (1) of the Central Electricity Regulatory Commission (Procedure, Terms and Conditions for the Grant of Trading Licence and other related matters) Regulations, 2020 (hereinafter referred to as “the Trading Licence Regulations”), amended from time to time, for the grant of a Category ‘V’ trading licence for inter-State trading in electricity across India.

2. In accordance with sub-section (2) of Section 15 of the Act read with Clause (4) of Regulation 6 of the Trading Licence Regulations, notices were published by the Petitioner on 25.4.2026 in all India edition of the ‘Business Standard’ (Ahmedabad, Bengaluru, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Hyderabad, Jaipur, Kochi, Kolkata, Lucknow and Mumbai) and ‘Indian Express’ (Ahmedabad, Delhi, Jaipur, Kolkata, Lucknow and Mumbai. The Petitioner has submitted that no objections have been received in response to the public notices.

3. In accordance with Regulation 3(3) of the Trading Licence Regulations, a person applying for a Category 'V' trading licence should have a net worth of Rs. Two crore and should have maintained a minimum current ratio and liquidity ratio of 1:1 as on the date of the Audited Special Balance Sheet accompanying the application. As per the Audited Balance Sheet submitted by the Petitioner as on 24.3.2026, the Petitioner possesses the required net worth, current ratio, and liquidity ratio for the grant of a Category 'V' trading licence. The Commission, vide its order dated 21.7.2026, concluded that the Petitioner is prima facie qualified for the grant of a Category ‘V’ licence for inter-State trading in electricity.

4. On the above consideration, the Commission, vide its order dated 21.7.2026, had proposed to grant a Category 'V' inter-State trading licence to the Petitioner. The relevant portions of the said order dated 21.7.2026 are extracted as under:

“12. In accordance with Clause (2) of Regulation 3 of the Trading Licence Regulations, the Petitioner should have at least one full-time professional possessing qualifications and experience in power system operation and the commercial aspects of power transfer, including finance, commerce and accounts. With regard to full-time professionals, the Petitioner has submitted that (a) Shri Anup Ghyanprakash Swamy (M.Sc. in Advanced Engineering and Management), President (Power Trading), has over 14 years of experience in the energy and industrial sectors with core expertise in business development, energy solutions and client relationship management, experience in system operation, power trading, energy risk management, particularly in relation to open access power transactions, renewable energy solutions and energy efficiency programs, (b) Shri Thayeeb Pasha, (Graduate in Engineering), General Manager (Power Trading & Operations), has more than 10 years in the power sector with core expertise in system operation, power trading and energy risk management, along with business development and regulatory coordination, involved in power trading through exchanges and bilateral arrangements and has handled group captive and third-party power sale transactions, and (c) Shri Kiran Kumar S. (C