PTC INDIA LIMITED vs GAJENDRA HALDEA .

The Supreme Court held that the Appellate Tribunal for Electricity exceeded its jurisdiction under Section 121 of the Electricity Act, 2003 by directing Regulatory Commissions to fix trading margins without proper adjudication. The Court emphasized that the Tribunal cannot determine tariffs based on assumptions and must adhere to the provisions of Section 60, which requires specific findings regarding adverse effects on competition. The appeal was allowed, and the Tribunal's directions were set aside, reaffirming the principles established in Grid Corporation of Orissa Ltd. v. Gajendra Haldea (2008).