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There is no depreciation on equity

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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. That there is no depreciation on equity, cannot be disputed.

SUPREME COURT OF INDIA

DIVISION BENCH

( Before : Kurian Joseph and Rohinton Fali Nariman, JJ. )

PUNJAB STATE ELECTRICITY BOARD — Appellant

Vs.

POWERGRID CORPORATION OF INDIA AND OTHERS — Respondent

Civil Appeal Nos. 5133 of 2006 and 256 of 2007

Decided on : 24-02-2016

Depreciation on equity — There is no depreciation on equity, cannot be disputed. In the subsequent years, it is seen that the mistake has been corrected also — Court did not find any merit in the appeal — Appeal stands dismissed

JUDGMENT

Kurian Joseph, 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.


(2016) 2 JT 446

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