In the matter of the CERC (Procedure, Terms and Conditions for grant of Trading Licence and other related matters) Regulations of inter-State trading licence – EQ
Summary:
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## **Case Overview**
* **Petitioner:** Mahagenco Renewable Energy Limited (MREL), Mumbai.
* **Petition No.:** 445/TD/2025.
* **Subject:** Application for grant of **Category IV Inter-State Trading Licence** under Section 14 of the Electricity Act, 2003 and CERC Trading Licence Regulations, 2020.
* **Date of Order:** 25 September 2025.
* **Coram:** Shri Jishnu Barua (Chairperson), Shri Ramesh Babu V., Shri Harish Dudani, Shri Ravinder Singh Dhillon.
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## **Key Findings**
* **Public Notice & Objections:**
* Notices were published in multiple newspapers (Financial Express, Business Standard, The Hindu, Dainik Bhaskar).
* No objections/suggestions were received.
* **Financial & Technical Compliance:**
* As per audited balance sheet (28.02.2025), MREL satisfied the net worth requirement (₹3 crore) and liquidity ratios.
* Qualified professionals identified:
* **Mr. Harshal S. Bhaskare** (M.Tech, MBA, 20+ yrs in RE & project management).
* **Mr. Pravin Dilip Bhoir** (CA, 12+ yrs in finance & accounts in Mahagenco).
* Commission confirmed that MREL meets eligibility criteria.
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## **Order**
* CERC granted **Category IV inter-State Trading Licence** to MREL, valid for **25 years**, subject to compliance.
* **Key Conditions Imposed:**
1. Must comply with the Electricity Act, Rules, and Trading Licence Regulations.
2. Cannot engage in **transmission business** without surrendering the trading licence.
3. Must maintain required **net worth, liquidity, and current ratios**.
4. Can charge trading margin **only as per regulations**.
5. Must commence trading **within 1 year**, else licence liable for revocation.
6. Licence revocable in case of **non-compliance** with regulations.
7. Must submit periodic reports and pay annual licence fees.
* Extract of order forwarded to **Ministry of Power** and **Central Electricity Authority (CEA)**.
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