RITHWIK ENERGY GENERATION PVT. LTD. vs BANGALORE ELECTRICITY SUPPLY CO. LTD. AND ORS ETC

The Supreme Court addressed the validity of a Power Purchase Agreement (PPA) under the Electricity Act, 2003, specifically examining the implications of the State Commission's non-approval of the PPA. The Court held that the return of the PPA by the State Commission did not equate to its rejection, thus maintaining the validity of the PPA between the parties. The Court affirmed the Appellate Tribunal's decision, which found in favor of Respondent No.1, emphasizing that the appellant's claims regarding defaults were not sufficient to invalidate the existing agreement.