PUNJAB STATE ELECTRICITY BOARD Vs. POWERGRID CORPORATION OF INDIA & ORS

Supreme Court of India (Division Bench (DB)- Two Judge)

Appeal (Civil), 5133 of 2016, Judgment Date: Feb 24, 2016

                                                              NON-REPORTABLE

                        IN THE SUPREME COURT OF INDIA
                        CIVIL APPELLATE JURISDICTION

                        CIVIL APPEAL NO. 5133 OF 2006


PUNJAB STATE ELECTRICITY BOARD                                  Appellant(s)

                                VERSUS

POWERGRID CORPORATION OF INDIA & ORS.                          Respondent(s)


                                    WITH


                        CIVIL APPEAL NO. 256 OF 2007



                               J U D G M E N T

KURIAN, J.
1.    Despite the  very  persuasive  submissions  advanced  by  Mr.  Pradeep
Mishra, learned counsel appearing for the appellant, we  find  it  difficult
to appreciate the submissions.

2.    What has been done by the respondents is only to  correct  an  obvious
error that  has  crept  in  while  applying  the  norms  in  the  matter  of
depreciation on equities.

3.    That there is no depreciation on equity, cannot be disputed.   In  the
subsequent years, it is seen that the mistake has been corrected also.


4.    In that view of the matter, we do not find any merit in these  appeals
which are, accordingly, dismissed.
      No costs.
                                                   .......................J.
                                                        [ KURIAN JOSEPH ]


                                                   .......................J.
                                                [ ROHINTON FALI NARIMAN ]

      New Delhi;
      February 24, 2016.