Maharashtra State Electricity ... vs Maharashtra Electricity Regulatory ...

The Supreme Court upheld the decision of the Appellate Tribunal for Electricity, affirming the Maharashtra Electricity Regulatory Commission's dismissal of the Maharashtra State Electricity Distribution Company's petition. The court ruled that the introduction of the Base Rate system and the Marginal Cost of Funds Based Lending Rate system by the Reserve Bank of India did not constitute a 'Change in Law' as defined in the Power Purchase Agreements. Consequently, the appeal was dismissed, reinforcing the regulatory framework governing electricity distribution.