SIKKIM HIGH COURT ISSUES ORDERS ON TT ENERGY V/S THE PRINCIPAL CHIEF ENGINEER-CUM-SECRETARY, ENERGY AND POWER DEPARTMENT, GOVERNMENT OF SIKKIM AND ANOTHER

GANGTOK, India, May 11 -- Sikkim High Court issued the following judgment/order on April 9:

1 The Petitioner is a Company incorporated under the Companies Act, 1956 and claims to be a Special Purpose Vehicle, incorporated for the sole purpose of developing the Ting-Ting Hydroelectric Project, on river Rathong Chu, in West Sikkim. The Company identified the Project site in 2005 and accordingly approached the Respondents. Respondent No.2 accepted the proposal vide letter dated 05-12-2005 and the Respondent No.1 issued a Letter of Intent (LoI), dated 12-01-2006, entrusting the promoters of the Petitioner with the development of the Project. The Implementation Agreement (IA)/ Deed of Agreement, dated 03-09- 2008, was executed between the Petit...