Power Of Agreement In India

The Indian Registration Act provides for the registration of documents and thus records the contents of the document. Registration is necessary to preserve evidence and titles. There are certain agreements mentioned in Section 17 of the Indian Registration Act, which must be forcibly registered and therefore cannot be made without stamp paper. Some of them, as lawyers, often ask us whether agreements that are not made on stamp paper are invalid and unenforceable. The answer is a simple ”NO.” Agreements can be made either on a stamp paper or in a non-buffer document. While agreement has been reached on a document without stamps, certain legal aspects must be respected. This article establishes the validity of unstamped agreements and delves into the legal and technical consequences of unmarked agreements. With 3.4% of the world`s energy consumption, India is the sixth largest energy consumer in the world. Due to the growing Economy of India, energy demand has increased by 3.6% per year on average over the past 30 years.

In March 2009, India`s installed electricity capacity was 149,390 MW, while per capita electricity consumption was 612 kWH1. The country`s annual electricity production has increased from about 190 billion kWh in 1986 to more than 680 billion kWh in 20062. The Indian government has set an ambitious target of adding some 78,000 MW of installed generation capacity by 2012. Total electricity demand in India is expected to exceed 950,000 MW by 20303. About 75% of the electricity consumed in India is generated by thermal power plants, 21% by hydroelectric power plants and 4% by nuclear power plants4. More than 50% of India`s commercial energy needs are covered by the country`s huge coal reserves. In recent years, the country has also invested heavily in renewable energy sources such as wind energy. In 2008, the installed wind capacity in India was 9,655 MW5. In addition, India has provided considerable funds for the construction of various nuclear reactors, which would generate at least 30,000 MW6. In July 2009, India presented a $19 billion plan to produce 20,000 MW of solar electricity by 2020.

Electricity purchase contract An electricity purchase agreement (AAE) is a legal contract between an electricity producer (supplier) and a buyer of electricity (host).

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