Judgment Search Results Home > Cases Phrase: actuaries act 2006 section 8 honorary affiliate and student members Court: appellate tribunal for electricity aptel Page 1 of about 3 results (0.372 seconds)

Bses Rajdhani Power Ltd. Vs. Delhi Electricity Regulatory Commission a ...

Court : Appellate Tribunal for Electricity APTEL

..... , fort street, off d.n. road, fort, mumbai, incorporated under section 3 of the actuaries act (which was enacted and received assent of the president on 27.8.2006 and was brought into force on 8.11.2006). the nominee of the institute shall be indicated by the president, governing council of the institute. the second member of the tribunal shall be a common nominee of the gnct ..... pertinent to note that the appellant does not come forward with any solution in which the members of a commission are equally divided on any issue relating to tariff fixation. in our opinion, the only possible view is that in such situations section 92(3) of the act has to be applied and the chairman has to be given a casting vote. view ..... of the gnct pension trust and the third member shall be a common nominee of bses and bypl. (v) all members of the two arbitral tribunals should be actuaries, having knowledge and experience in the field of pension funds; (vi) the proceedings before the tribunals shall be regulated by the provisions of the arbitration and conciliation act, 1996 and its award would be an ..... award within the terms of that act; (vii) the terms of reference of .....

Haryana Vidyut Prasaran Nigam Vs. Haryana Electricity Regulatory

Court : Appellate Tribunal for Electricity APTEL

Reported in : (2006)LCAPTEL555

..... accounts and the account of the company will not reflect a true and fair working of the company, which would be violative of section 209 and section 211 of companies act, 1956. the said provisions are mandatory.18. per contra the respondent commission pleads that keeping in view the deficit position of the ..... hearing was postponed. subsequently, a hearing on the review petition was again fixed for 19^th february, 2003, which was also postponed without assigning any reason.8. on 31^st december, 2002 the appellant submitted application for an annual revenue requirement for the financial year 2003-04. the commission issued deficiency letter dated ..... contended that even the decision of the commission regarding working capital loan was not an unanimous decision. one of the members had dissented in this respect from the other members of the commission. it will be pertinent to extract very contents of the dissenting note of one of the ..... members of the commission, which reads as below: the commission in its previous order dated 6^th august, 2001 had allowed ..... appellant, the commission deferred it until the appellant is able to generate cash surplus. allowing terminal benefits on the basis of actuarial valuation basis at .....

In the Matter Of: Western Electricity Supply Company of Orissa Ltd. (W ...

Court : Appellate Tribunal for Electricity APTEL

..... in the number of superannuations would result in increase in requirement of terminal benefit fund. in the financial year 2008-2009, the commission has acted upon the actuarial valuation and given the benefit for the same in the arr. in our view, this benefit would apply to the appellants in respect of fy ..... structure. in view of that the commission for the purpose of calculation of expected revenue takes into consideration the average revenue from april to december 2006-07 as the base for estimation purpose. the representative of wesco, nesco and southco were directed in the public hearing to submit each individual ..... % on ntpc bonds in the arr of the appellants. in the impugned order also interest rate of 8.5 % has been allowed. this tribunal in its judgment dated 13.12.2006 relating to the fy 2006-2007 decided this issue in favour of the appellants and directed the state commission to allow interest @ ..... of allowing the interest @ 12.5%, merely allowed the interest @ 8.5% in the arr of the appellants. the very same issue was raised before this tribunal. in the earlier judgment dated 13.12.2006 in respect of the fy 2006-07, the tribunal has ultimately allowed in its judgment that the distribution ..... companies are entitled to the rate of interest @ 12.5% and the disallowance of 4% interest i.e. difference of 12.5% and 8.5% by the state commission .....

Haryana Vidyut Prasaran Nigam Limited Vs. Haryana Electricity Regulato ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

..... financial year 2012-13 has claimed an amount of rs.1570.09 million towards terminal benefits forming part of the employees cost based on the actuarial valuation on estimated basis after adjustment of net amount of pensionary liability payable from pseb/ut/himachal. it is further contended that appellant that ..... the increase in pension liabilities is also due to lower returns earned by the funds managed by the trust. as against the discounting factor used for actuarial valuation of liabilities, the interest earned by pension fund is much less. resultantly the gap in the funded portion increases. the distribution licensees are borrowing ..... arr for fy 2010-11 had allowed hvpnl to recover rs. 103.60 millionas contribution to new pension scheme for employees recruited after 1.1.2006. however, as per the audited accounts for fy 2010-11, the commission observes that the actual contribution by hvpnl on this account is only ..... learned counsel for the appellant as well as the learned counsel for the state commission. 7. let us first take the issue of depreciation. 8. on this issue, the state commission allowed depreciation of rs.1627.10 million as against the claim of the appellant amounting to rs.2249.06 ..... obligation with respect to such retired personnel. therefore asking the consumers to pay for these liabilities would tantamount to contravention of the act to a certain extent. the petitioner may examine the reasons behind increase in the pension liability. for any increase in cost attributable to period .....

Chhattisgarh State Power Distribution Co. Ltd., Raipur Rep. by Its Sup ...

Court : Appellate Tribunal for Electricity APTEL

..... needs to be apportioned in the same proportion as the expenditure. 12.4 let us first discuss the jurisdictional issue. 12.5 according to section 131 of the electricity act, 2003, with effect from the effective date of transfer scheme, any property, interest in property, rights and liabilities of the electricity board ..... the requirement of pension fund may increase when the effect of the sixth pay commission is evaluated. therefore, we direct the appellant to carry out actuarial valuation for the employees gratuity and pension fund after announcement of the sixth pay commission recommendations and submit a proposal for the contribution required to ..... state commission was as under (paragraph 10.1 of the impugned order) figures in rs. croress.no.fypetitioners submissioncommissions analysis1.2005-061463582.2006-071143313.2007 -08882204.2008 09252933308184212.14 the surplus for the electricity board period from 2005-06 to 2008-09 according to submissions of the appellant ..... fund. we have also given some directions to the appellant in paragraph 11.7 for carrying out actuarial valuation for the employees gratuity and pension fund after the announcement of the sixth pay commission report. viii) jurisdiction of the state commission in allocation of surplus of electricity board between the successor entities and ..... rakesh nath, technical member, j. this appeal has been filed by chhattisgarh state power distribution company limited, a distribution licensee, against the order of the .....

Western Electricity Supply Company of Orissa Ltd. (Wesco) and Others V ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

..... orissa commission in line with its observation in the rst order 2013-14 and myt principles for 2nd and 3rd control period have now engaged an independent actuary to undertake actuarial valuation of four discoms and optcl of orissa up to 31.03.2013 with projection upto 31.03.2014 and 31.03.2015. the commission after ..... . (southco) against the retail supply tariff (rst) order dated 20.03.2013 passed by the orissa electricity regulatory commission (in short, orissa commission) under section 111 of the electricity act, 2003 in case no. 104 of 2012, 105 of 2012 and 106 of 2012 respectively, inter-alia determining the tariff to be charged by the three ..... , particularly, in para 232 of the rst impugned order dated 20.03.2013. the relevant extract of such is reproduced below:- 232. commission have been appointing independent actuary to undertake assessment of pension, gratuity and leave encashment liability of the employees of four discoms (wesco, nesco, southco and cesu) and optcl. commission engaged m/s ..... no. 77/2006 and batch, this tribunal was inter alia pleased to direct (in para 27 thereof) that the commission would have to re-look at the aspect of determination of the distribution losses and to take a practical view on the basis of the ground realities. (iii) again in judgment dated 8.11.2010 of ..... surendra kumar, judicial member: 1. these appeals have been preferred by the 3 private distribution licensees in the state of orissa namely; western electricity supply company of orissa ltd. .....

Mahendra Gupta and Others Vs. Delhi Electricity Regulatory Commission ...

Court : Appellate Tribunal for Electricity APTEL Appellate Jurisdiction

..... ) as in any case the same shall be, subject to the adjustment with the amount of liability, as may be determined on the basis of actuarial valuations. (e) that the learned state commission vide impugned order dated 31.7.2013 simply observed that the matter is sub-judice before the honble ..... who opted for voluntary retirement under rule 48-a of the ccs (pension) rules, 1972 in the year 2006. the appellants on relinquishing the services from the department were reappointed in ndpl/tpddl on contractual basis. the appellants requests for voluntary retirement under rule 48 ..... the parties to the dispute before the honble high court of delhi should expedite the proceedings and explore other avenues for settlement of the dispute. 8. we have heard the learned counsel for the parties and perused the impugned order including material on record. the appellants before us are the employees ..... of the erstwhile dvb are liable to make payment to the pension trust. accordingly, the state commission passed certain directions vide its order dated 26.8.2011. (d) that during fy 2012-13, the pension trust again made a representation for retirement liabilities of dvb retirees and operation of dvb ..... surendra kumar, judicial member. 1. the present appeal has been filed by the appellants under section 111 of the electricity act, 2003 against the tariff order dated 31.7.2013 passed by the learned delhi electricity regulatory commission (hereinafter called the state .....

Damodar Valley Corporation Vs. Central Electricity Regulatory

Court : Appellate Tribunal for Electricity APTEL

..... is no doubt that the dvc was established by a notification issued by the central government in consonance with section 3 of the dvc act.38. as per section 4 of the dvc act, the corporation shall consist of a chairman and two other members appointed by the central government after consultation with the two provincial governments of west bengal and jharkhand (earlier state ..... is empowered to determine the generation and transmission tariffs of the dvc.35. in connection with the aforesaid question, it is relevant to look at section 79 of the act of 2003. section 79 of the act of 2003, inter alia, provides that the central commission will regulate tariff of generating companies owned or controlled by the central government.36. the control ..... in the tariff regulations, 2004, which we feel is applicable to the appellant. the appeal accordingly fails on this count. d.1 dvc has submitted that based on the actuarial valuation, entire funds need to create the pension and gratuity contribution fund should be allowed to be recovered through the process of determination of tariff. the central commission in its ..... segregated from the inter-state transmission system to facilitate determination of retail tariff for consumers in the distribution areas.state commission of west bengal has, also in appeal no. 8 of 2006, protested that the intra-state transmission, distribution network and determination of retail tariff and wheeling tariff of dvc pertaining to the territory of the state of west bengal fall .....

The Tata Power Company Limited, Rep. by B.J. Shroff Vs. Maharashtra El ...

Court : Appellate Tribunal for Electricity APTEL

..... concession can override a mandatory statutory provision . m) the msldc is a non profit system operator in view of section 31 of the act and regulation 7 of the state grid code regulations, 2006 clearly provided that adequate autonomy shall be provided to the state load despatch centre. n) apart from the directions of ..... government is of the view that in public interest the merc should take suitable measures at the earliest, taking in to account the report of the five members committee, (annexure-i), and more particularly, the following broad principles, as well as any other fact, principle or legal provision which needs to be taken ..... by the msldc and for seeking directions for grant of no objection/ concurrence/ standing clearance to the appellant and the respondent no. 7 in accordance with regulation 8 (3) of the cerc (open access in inter-state transmission ) regulations, 2008. 51. in terms of the order of the high court the appellant preferred ..... of the case. 46. in this petition being case no. 16 of 2010 filed on 20.5.2010, the commission passed an order on 3.8.2010 wherein there is a reference to the writ petition filed before the bombay high court challenging the two government memoranda and also the high court ..... and 16.06.2010 and in view of these orders there was no embargo on the part of the msldcl to schedule generation of the appellant. 8. now, the appellant on 11.06.2010 requested the msdcl to implement the schedule from 14.06.2010 for the power contracted by the appellant .....

Reliance Energy Limited Vs. Maharashtra Electricity Regulatory Commiss ...

Court : Appellate Tribunal for Electricity APTEL

..... the original clause 4. the submission of learned senior counsel for the respondent that novation, rescission or alteration of a contract under section 62 of the indian contract act, 1872 can only be done with the agreement of both the parties to a contract and one party cannot unilaterally alter the term ..... vs. standard chartered bank and ors., (2004) 1 scc 12 to urge that novation, rescission or alteration of a contract under section 62 of the indian contract act, 1872 can only be done with the agreement of both the parties to the contract. both the parties have to agree to substitute ..... be examined afresh after giving opportunity to the parties of hearing and after decision of the supreme court in civil appeal no.2898 of 2006 and 3101 of 2006 relating to the issues, as to whether or not tpc is a distribution licensee and whether or not rels offer of rebate ..... one which has actually been entered into by the parties. 38. in state bank of india and anr versus mula sahakari sakhar karkhana ltd, (2006) 6 scc 293, it was held that reference to surroundings/attending circumstances are not relevant for construing the agreement when no ambiguity exists in the ..... needs to be considered while deciding standby charge. otherwise, tec would not achieve reasonable return in 1997-98 8. the committee further reported that; however, on detailed deliberation on this issue the committee members have agreed that the standby charges on 275 mva demand are payable. however, rate could be jointly decided or .....