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As per case facts, two appeals were filed under the Electricity Act, one by Gujarat Urja Vikas Nigam Ltd. and the other by CLP India Pvt. Ltd., both challenging a
...common order of the Appellate Tribunal for Electricity. The case involved a power purchase agreement where Gujarat Urja was obligated to buy and CLP to supply electricity. The question arose regarding the payment of interest on a specific sum, which was treated fictionally as a loan for interest purposes, considering equity infused beyond tariff regulations. Finally, the Supreme Court dismissed both appeals, finding that the clear agreement between the parties only stipulated interest for a specified period, and no claim for prior periods was tenable. The findings of the lower authorities were deemed sound.
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