https://www.taxtmi.com/caselaws?id=761230 The SC held that a press release dated 01.10.2009 announcing Union Cabinet's decision to modify the Mega Power Policy 2006 did not constitute "change in law" under the power purchase agreement. The press release merely announced a proposal requiring fulfillment of conditions including distribution reforms by states. No vested rights were created as the legal regime remained unchanged until actual notifications were issued on 11.12.2009 and 14.12.2009. The court applied the golden rule of contract interpretation, finding the press release did not alter existing law. Benefits under the modified policy would apply only from when mega power status was actually granted, not from the press release date. en-us Tue, 05 Nov 2024 00:00:00 +0530 Wed, 06 Nov 2024 14:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761230 The SC held that a press release dated 01.10.2009 announcing Union Cabinet's decision to modify the Mega Power Policy 2006 did not constitute "change in law" under the power purchase agreement. The press release merely announced a proposal requiring fulfillment of conditions including distribution reforms by states. No vested rights were created as the legal regime remained unchanged until actual notifications were issued on 11.12.2009 and 14.12.2009. The court applied the golden rule of contract interpretation, finding the press release did not alter existing law. Benefits under the modified policy would apply only from when mega power status was actually granted, not from the press release date. Case-Laws Customs Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761230