ORDER

Indian Railways has filed the instant Petition under Section 79 (1)(c) of the Electricity Act, 2003 and Regulation 65 of the Central Electricity Regulatory Commission (Conduct of Business) Regulations, 2023 seeking appropriate directions to the Central Transmission Utility of India to accept the Reserve Bank of India’s Letter of Mandate for the purpose of granting connectivity under the GNA Regulations.

2. The Petitioner has made the following prayers in the Petition:

Prayers under Petition No. 359/MP/2024:

(a) Hold and declare that the Letter of Mandate(s) issued by the Reserve Bank of India on behalf of the Indian Railways satisfies the regulatory requirements of the Connectivity Bank Guarantees envisaged under the GNA Regulations, 2022 in all respects, and consequently the Indian Railways is not required to furnish Bank Guarantees when a Letter of Mandate is furnished for the same value;

(b) Direct CTUIL to accept the Letter of Mandate issued by the RBI as Conn-BG 1 and Conn-BG 3 respectively;

(c) issue appropriate directions to CTUIL to recognize the Reserve Bank of India’s Letter of Mandate(s) issued on behalf of the Indian Railways as a valid Payment Security Mechanism under