Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Indian Electricity Act Compensation |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Indian Electricity Act, 1910-Section 6, 7, 7A-Amendment in, by Indian Electricity (UP. Amendment and Validation) Ordinance No. 7 of 1975/Indian Electricity (U.P. Amendment and Validation) Act, 1976-Policy of nationalisation of electric companies-Amendment envisaging the book value of the undertaking as the purchase price instead of its market value for the purpose of acquiring the undertaking-Constitutional validity of the Amending Act/Ordinance challenged on the ground that such amendment extinguished the right which had accrued in the electric companies, to get the market price-Held, the provisions for payment of amount to the undertaking, by reducing the market value to book value. formed an integral part of the nationalisation scheme and that economic consideration for nationalisation was not justifiable-Concept of book value being an accepted accountancy concept, cannot be held to be illusory-Contention that respondent was entitled to receive market value of the property as rights of the respondent had crystallised on the date of take-over, negatived-Constitution of India, 1950-Articles 19(1)(f),31,32,39.(b). Compensation-Determination of-Method/principle-Application of-Held, if several principles are appropriate and one is selected for determination of the value of the property to be acquired, selection of that principle to the exclusion of other principles is not open to challenge-In the present case, the only right accruing to the undertaking was a right to receive compensation which was to be worked out on certain principles-The Amending Act merely changed the method or principle on the basis of which the compensation was to be worked out and it would not be open to the Court to question the valuation. |
Judge | Hon'ble Mr. Justice S.N. Variava |
Neutral Citation | 2000 INSC 322 |
Petitioner | U.p. State Electricity Board |
Respondent | Upper Jamuna Valley Electricity Supply Co. Ltd. |
SCR | [2000] Supp. (1) S.C.R. 411 |
Judgement Date | 2000-05-12 |
Case Number | 3658 |
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