CERC: Petition forBeawar Transmission Seeks Approval for Security Interest Over Assets for Lender Benefit

Petition under Sections 17(3) and 17(4) of the Electricity Act, 2003 for creation of security interest over all the movable and immovable assets of the Petitioner in favour of the Security Trustee, Respondent No. 2, for the benefit of the lender, Respondent No. 3.

Beawar Transmission Limited

Versus

Central Transmission Utility of India Limited, Catalyst Trusteeship Limited & REC Limited 

Background:

The Petitioner, Beawar Transmission Limited (hereinafter referred to as ‘the Petitioner/BTL’), has been granted a transmission licence under Section 14 of the Electricity Act, 2003 (hereinafter referred to as ‘the Act’) for development and operation of the “Inter-State Transmission System for Evacuation of Power from REZ in Rajasthan (20 GW) under Phase-III Part F” (hereinafter referred to as ‘the Transmission System’ or ‘the Project’), the details of which are specified in the schedule attached to the licence issued vide Order dated 2.