The main objective of the paper will be to combine smart meter with Load Management System (PLMS) and theft detection. The purpose of this paper will be Smart Grid interoperability and standards relevant to the Indian context, development of indigenous low-cost smart solutions. In advance metering infrastructure we will be aiming to monitor the real time consumption of electricity through IOT and provide necessary control over the consumption. In this we will also find solution for black-out management by providing some bug correction from the service centers to the domestic consumers. In peak load management system currently we are providing total power cut for all types of loads, instead of that we can have two separate connections for light loads and power loads . At the peak time we can cut the power only for power load and provide supply to light loads. By doing this we can avoid the use of inverters for domestic purposes. Inverters are having a major drawback as it consumes more power and will deliver only less power as output. Since most of the domestic consumers are having inverters, power cut is of no use. So by implementing peak load management (PMS) some solution can be provided for this problem. If in case there is an urgent requirement of power for some appliances and the consumer is willing to pay extra money at peak load time then they can get High power loads with additional cost .The consumer can login to the consumer page provided by the electricity board and agree for paying extra money at peak load time or otherwise with the additionally provided breaker in the circuit which can be manually turn on during the peak load time consumer can have this benefit but on additional charges.