The Supreme Court has dismissed Bharat Hydro Power Corporation Ltd's appeal challenging its takeover by the Assam government and vesting its Rs 200 crore Karbi Langpi project in the state electricity board. The Acquisition Act was passed because there was an inordinate delay in the completion of the project in the power-starved state. The project was sanctioned by the Planning Commission in 1979, but it could not be completed due to litigation and changes in the contracting companies.