There is no depreciation on equity

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.

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DIVISION BENCH

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

PUNJAB STATE ELECTRICITY BOARD — Appellant

Vs.

POWERGRID CORPORATIONCorporation A legally established entity that can enter into contracts, own assets and incur debt, as well as sue and be sued—all separately from its owner(s). The term covers both for-profit and nonprofit corporations and includes nonstock corporations, incorporated membership organizations, incorporated cooperatives, incorporated trade associations, professional corporations and, under certain circumstances, limited liability companies. 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

JUDGMENTJudgment The statement given by the Judge on the grounds of a decree or order - CPC 2(9). It contains a concise statement of the case, points for determination, the decision thereon, and the reasons for such decision - Order 20 Rule 4(2).  Section 354 of CrPC requires that every judgment shall contain points for determination, the decision thereon and the reasons for the decision. Indian Supreme Court Decisions > Law declared by Supreme Court to be binding on all courts (Art 141 Indian Constitution) Civil and judicial authorities to act in aid of the Supreme Court (Art 144) Supreme Court Network On Judiciary – Portal > Denning: “Judges do not speak, as do actors, to please. They do not speak, as do advocates, to persuade. They do not speak, as do historians, to recount the past. They speak to give Judgment. And in their judgments, you will find passages, which are worthy to rank with the greatest literature….” Law Points on Judgment Writing > The judge must write to provide an easy-to-understand analysis of the issues of law and fact which arise for decision. Judgments are primarily meant for those whose cases are decided by judges (State Bank of India and Another Vs Ajay Kumar Sood SC 2022)

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 costsCosts Subject to any written law, costs are at the discretion of the Court, and the Court has the power to determine all issues relating to the costs of or incidental to all proceedings, including by whom and to what extent the costs are to be paid, at any stage of the proceedings or after the conclusion of the proceedings. Generally “Costs” includes charges, disbursements, expenses, fees, and remuneration. Costs in any matter are payable from the date of the order of the Court unless the parties otherwise agree. The costs of a third-party funding contract are not recoverable as part of the costs of, or costs..

(2016) 2 JT 446