CERC: Approves Security Interest Creation for Lakadia Banaskantha Transco Debenture Refinancing Project Assets

Petition under Section 17(3) and (4) of the Electricity Act, 2003, read with Article 15 of the Transmission Services Agreement, seeking approval for the creation of a security interest over all immovable and movable assets of the Petitioner, in favour of the Debenture Trustee.

Lakadia Banaskantha Transco Limited

Versus

Powerica Limited,  Catalyst Trusteeship Limited,

Background:

The Petitioner, Lakadia Banaskantha Transco Limited (hereinafter referred to as “the Petitioner/ LBTL”), has been granted a transmission licence under Section 14 of the Electricity Act, 2003 (hereinafter referred to as ‘the Act’) to establish the  “Transmission System associated with RE Generations at Bhuj-II, Dwarka & Lakadia” (hereinafter referred to as “the Transmission System” or “Project”), the details of which are specified in the schedule attached to the licence issued vide order dated 23.