AIR 2005 SUPREME COURT 4256 ::2005 AIR SCW 5110 ::2005 (6) Com LJ 158 SC ::(2005) 69 CorLA 152 ::2006 (1) SCC 1 ::(2005) 7 Scale 562 ::(2005) 8 SCJ 638 ::2005 (7) SLT 297 ::2005 (7) Supreme 536 ::(2005) 8 JT 588 (SC)

Supreme Court Of India

Hon'ble Judge(s): Y. K. Sabharwal, Arijit Pasayat, S. H. Kapadia , JJJ

(A) Environment (Protection) Act (29 of 1986) , S.3(3)— Notification of MOEF, D/- 23-4-2004, Cls, 2-2, 6-4, 6-6 - Compensatory Afforestation Fund Management and Planning Authority (CAMPA) - Executive Board - Constitution - Two more environmentalists, one of whom may be expert in the field of forest and other in field of forest economy development - Directed to be included by Court - Utilisation of money received in CAMPA - Cl. 6-4(v) of notification directed to be suitably amended so that CAMPA can incur expenditure in State or Union Territory other than one mentioned in clause 6.2 if it considers it necessary - Establishment of Special Performance Vehicle (SPV) for undertaking compensatory afforestation - Word 'may' in Cl. 6.6 substituted by 'shall' - However, for present SPV shall not be established without permission of the Court. (Para 21 23 24) (B) Words and Phrases - Net Present Value (NPV) - Meaning of. The NPV is the present Value (PV) of net cash flow from a project, discounted by the cost of capital. Time value of the cash inflow/outflow is important in investment appraisal. NPV is a method by which future expenditure (costs) and benefit are levelised in order to account for the time value of money....