Punjab State Electricity Board vs Powergrid Corporation Of India & Ors

The Supreme Court dismissed the appeals, affirming that there is no depreciation on equity, and the respondents merely corrected an obvious error in applying depreciation norms. The Court found no merit in the submissions made by the appellant's counsel, leading to the dismissal of the appeals without costs. The judgment underscores the principle that corrections of obvious errors in financial reporting do not constitute grounds for appeal.