$~122 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 10362/2026 & CM APPL. 47969/2026 FIRST ENERGY PVT. LTD & ANR. .....Petitioners Through: Mr. Sandeep Sethi, Senior Advocate with Ms. Vishrutyi Sahni, Mr. Tushar Nagar, Mr. Samikrith Rao, Mr. Kunal Kaul, Mr. Dheeraj Nair, Mr. Abhishek Munot and Ms. Purvi Shrivastava, Advs. versus CENTRAL TRANSMISSION UTILITY OF INDIA LTD .....Respondent Through: Mr. Shubham Arya, Advocate CORAM: HON'BLE DR. JUSTICE SWARANA KANTA SHARMA O R D E R % 27.07.2026 1. By way of the present writ petition, the petitioners seek following reliefs: “A) Issue an appropriate writ, order or direction, quashing and setting aside the Impugned Communication dated 17.07.2026 issued by Respondent; B) Issue an appropriate writ, order or direction, restraining the Respondent from acting on the Impugned Communication by (i) Encashing Bank Guarantee [Conn-BG 1 of INR 50 Lakhs 16360100017884 and Conn-BG 3 (16360100017885) of INR 2 Crores] dated 29.12.2023 (as renewed); and (ii) Revoking the Connectivity granted vide Respondent’s final grant of connectivity dated 30.12.2024 (Ref: CTU/N/5/Conn-INT- 1C/2200000221) at Bikaner – III C) Award costs of the present petition to the Petitioners…” This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 30/07/2026 at 15:38:13 2. Briefly stated the facts of the case are that petitioner no. 1 – First Energy Pvt. Ltd – a generating company under the Electricity Act obtained connectivity from Central Transmission Utility of India (CTUIL) for evacuation of power from its 100 MW solar project in Bikaner, Rajasthan, being developed by petitioner no. 2, its wholly owned subsidiary. The CTUIL had granted in-principle connectivity on 04.06.2024 and final connectivity on 30.12.2024 at the Bikaner-III sub-station. The petitioners were required to achieve Financial Closure by 11.05.2026. They had submitted a Standard Chartered Bank loan sanction letter dated 23.04.2026, approving a loan of ₹378.41 crore, along with all Financial Closure documents on 06.05.2026, before the prescribed deadline. It is stated that on 06.06.2026, CTUIL had objected that the sanction letter referred to "indicative terms and conditions" and sought a revised letter. Accordingly, the Bank had issued a fresh sanction letter dated 10.06.2026 with identical terms, except deletion of the word "indicative," which was submitted on 12.06.2026. 3. It is stated that vide the impugned communication, CTUIL has held that Financial Closure had not been achieved since the revised sanction letter was issued after 11.05.2026, and proposed invocation of bank guarantees of ₹2.5 crore and revocation of connectivity. The petitioners submit that the original sanction letter validly established Financial Closure before the deadline and that the Respondent's objection is hyper-technical, as the expression "indicative terms and conditions" is standard banking practice and did not affect the sanction of the loan. 4. The learned senior counsel appearing for the petitioners states that the This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 30/07/2026 at 15:38:13 petitioners have substantially progressed with the ₹500.41 crore project, while CTUIL itself has recorded that connectivity will be operationalized only by 30.09.2027. Hence, no prejudice would be caused by the alleged delay. Owing to the imminent threat of encashment of bank guarantees and revocation of connectivity, the petitioners have approached this Court seeking urgent relief instead of awaiting proceedings before the CERC 5. The learned senior counsel appearing for the petitioners also states that the next meeting of the Central Electricity Regulatory Commission (CERC) is likely to be conducted on 30.07.2026. 6. Having heard the learned counsels appearing for the parties, and considering the facts and circumstances of the case, it is directed that the petitioners herein will immediately move an application for interim relief before the concerned authority and the names of the petitioners will be considered by the CERC in the next meeting, which is to be conducted on 30.07.2027. It is made clear that till a decision is taken on the interim application, to be moved on behalf of the petitioners, the impugned communication dated 17.07.2026 shall not be given effect to. 7. In view of above terms, the present petition stands disposed of. Pending application, if any, also stands disposed of. 8. The order be uploaded on the website forthwith. DR. SWARANA KANTA SHARMA, J JULY 27, 2026/A/TD This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 30/07/2026 at 15:38:13