CERC: Petition for creation of the security interest over all the movable and immovable assets of Catalyst Trusteeship

Petition under Sections 17(3) and 17(4) of the Electricity Act, 2003 for creation of the security interest over all the movable and immovable assets of the Petitioner in favour of the Catalyst Trusteeship Limited, Respondent No. 10. 

Nangalbibra - Bongaigaon Transmission Limited,

Versus

Assam Power Distribution Company Limited, Meghalaya Energy Corporation Limited, Lumjingshai,  Tripura State Electricity Corporation Limited, & 9 Others

Background:

The Petitioner, Nangalbibra-Bongaigaon Transmission Limited, has filed the present Petition under Section 17(3) and 17(4) of the Electricity Act, 2003 (hereinafter referred to as “the Act”) read with Regulation 6 (8) of the Central Electricity Regulatory Commission (Procedure, Terms and Conditions for grant of Transmission License and other related matters) Regulations, 2024 (hereinafter referred to as "Transmission License Regulations”) to seek the approval over the Petitioner’s Assets and to secure the total commitment to the New Lenders and its subsequent transferees, assignees, novatees thereof and any refinancing lenders to the Project by way of hypothecation/ assignment/ mortgage aggregating to Rs.