NABHA POWER LTD. (NPL) vs PUNJAB STATE POWER CORPORATION LTD. (PSPCL)

The Supreme Court ruled that the Punjab State Electricity Board's bidding process for power procurement under Section 63 of the Electricity Act, 2003 was valid and adhered to the guidelines issued by the Central Government. The Court emphasized that the tariff determination through a transparent bidding process is mandated by law, and the successful bidder must comply with the specified conditions in the Request for Proposal. The appeal was dismissed, affirming the legitimacy of the bidding process and the resultant Power Purchase Agreement.