Torrent Power Limited vs U.P. Electricity Regulatory … on 14 July, 2025

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J.B. PARDIWALA, J.

For the convenience of exposition, this judgment is divided into the
following parts:

INDEX
A. FACTUAL MATRIX……………………………………………………………. 2

(i) Order passed by the UPERC ………………………………………….. 7

(ii) Impugned Order passed by the APTEL ……………………………. 9

(iii) Report of the Expert Committee …………………………………. 16

B. SUBMISSIONS ON BEHALF OF THE APPELLANT ………………….. 27

C. SUBMISSIONS ON BEHALF OF THE RESPONDENT NO.4 ……….. 29

D. ANALYSIS …………………………………………………………………….. 32

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