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Home News Power Sector News Bombay HC slams govt in CERC vs FMC regulator spat

Bombay HC slams govt in CERC vs FMC regulator spat

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High CourtRegulatory spats just never cease. And, on 07-01-2011, the one between the Forward Markets Commission (FMC) and the Central Electricity Regulatory Commission (CERC) led to embarrassment for the Government of India. The Bombay High Court slammed the government for not contributing enough to settle the matter linked to forward contracts, reports CNBC-TV.

The court says that the affidavits filed by the law minister and the cabinet secretary are ‘useless' and that the two are ‘passing the buck' on to the courts. "There is no doubt that both had different stances," it added.

Also, the government of India, who was made party to the case to seek opinion, doesn't want to ‘displease either sides' the court complained.

Clearing its stance, counsel to the government of India had said settlement is not possible and that the matter can't be decided by the High Powered Committee (HPC).

Source- CNBC


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