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TS yet to pay 11,728 cr, says AP
Financial Adviser and Chief Controller of Accounts of AP Genco, Chari, condemned here on Friday the statement given by the Chairman and Managing Director of Telangana State Transco and Genco and said that it was totally false and baseless
Vijayawada: Financial Adviser and Chief Controller of Accounts of AP Genco, Chari, condemned here on Friday the statement given by the Chairman and Managing Director of Telangana State Transco and Genco and said that it was totally false and baseless.
As per their power utilities books of account, they are liable to pay Rs 11,728 crore to Andhra Pradesh Genco. The books of accounts of Telangana State SPDCL clearly exhibit that dues to AP Genco is Rs.8,274.23 crore. The balance is due from Telangana State NPDCL as per their own books of accounts, Chari said.
AP Genco has supplied power to TS DISCOMs after bifurcation of the State for which the TSDISCOMs are due an amount of Rs 5,732.40 crore towards sale of power after adjustments. As far as AP Genco dues are concerned, the members of both houses of Parliament have raised the question regarding the dues payable to AP GENCO.
AP Genco has pursued from time-to-time for recovery of dues and in the Chief Secretaries meeting also, they have agreed to clear the dues in monthly instalments of Rs 150 crore along with every month current bill. However, they have not fulfilled the promise.
Therefore, AP Genco has no other alternative rather than moving a petition under Insolvency Act before the National Company Law Tribunal (NCLT), Hyderabad bench. TS Utilities have approached TSERC against AP Power Utilities requesting AP Genco not to approach NCLT for recovery of dues.
If there is no dues to AP GENCO, there is no need for TS DISCOMs to approach TS ERC with the request to stop AP Genco from approaching NCLT. The demerger issues raised by the CMD of Telangana State Transco and Genco are between the power utilities and are no relevance with the dues payable to AP Genco.
