CERC: Petition for approval for purpose of creating charge over the assets of Project in favour of Vardhman Trusteeship

Petition seeking approval under Section 17 of the Electricity Act, 2003 for bringing on record the appointment of Vardhman Trusteeship Pvt. Ltd., Respondent No.2 as the Security Trustee and for creation of security interest over the assets of Petitioner in favour of the Security Trustee, acting on behalf of and for the benefit of the Lenders (and for any subsequent transferees, assign, novatees thereof and any refinancing lenders to the Project), by way of hypothecation and equitable mortgage on the Project assets, pursuant to unattested Deed of Pledge, Declaration, Undertaking and other Financing Agreements, for the development of the Transmission Project.