Reliance Power applies for hike in Sasan tariff on higher overheads
Anil Sasi: New Delhi, Jan 26 2013, 01:05 IST
change in Income Tax Rates introduced in the Finance Act, 2012 (from April 1, 2012) and an increase in Minimum Alternate Tax Rates (introduced in the Finance Act, 2012 with effect from April 1, 2012) as among the 10 key reasons under the “change of law” head.
The Madhya Pradesh Power Management Company Ltd and thirteen other distribution companies from UP, Rajasthan, Punjab, Delhi, Haryana and Uttarakhand were to get power from the project. Reliance Power was declared successful bidder for the project in Singrauli district in Madhya Pradesh and a letter of intent (LoI) was issued to it on August 1, 2007. On August 7, 2007, a Power Purchase Agreement (PPA) was executed between the Petitioner and the 14 procurers.
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