Supreme Court Dismisses Appeal on Late Payment Surcharge in Electricity Supply Agreements — Clarifies Change in Law Definition. Court held that notifications by the Reserve Bank of India regarding Base Rate and MCLR constitute a change in law affecting the calculation of Late Payment Surcharge under Power Purchase Agreements....
The dispute arose from an appeal filed by Maharashtra State Electricity Distribution Company Limited against the Appellate Tribunal for Electricity's dismissal of its appeal regarding Late Payment Sur...




