9 March 2019: A fresh war of words broke out between Andhra Pradesh and Telangana and this time with the power utilities as the focal point, with the TS officials refuting the AP claim that they have to pay Rs 5,000 crore to its power utilities and went on to add that it is the AP which has to pay Rs 2,406 crore to them.
APGenco, however, said the accounts of Northern Power Distribution Company of Telangana Limited (TSNPDCL) show that TS has to pay the amount.
During the confrontation between the two States following the data theft case, AP leaders, including Chief Minister N Chandrababu Naidu, alleged that TS evaded payment of Rs 5,000 crore to AP power utilities. A day after their claim, TS Transco and Genco CMD D Prabhakar Rao said after the adjustment of dues between the two power utilities, TS would get Rs 2,406 crore from AP.
APGenco said Prabhakar Rao’s statements were totally false and baseless. As per their (TS) power utilities accounts, they are liable to pay Rs 11,728 crore to APGenco. The TSSPDCL accounts show that dues to APGenco are Rs 8,274.23 crore. The balance is due from TSNPDCL, it said in an official release.
APGenco said that it had supplied power to TS Discoms after bifurcation of the State for which the TS Discoms had to pay Rs 5,732.4 crore towards sale of power after adjustments. As far as APGenco dues are concerned, the question was raised in Parliament as well as in the Chief Secretaries meeting. “They have agreed to clear the dues in monthly instalments of Rs 150 crore along with power bill. However, they have not fulfilled the promise,” APGenco said.
With this, APGenco has no other alternative than moving a petition under Insolvency Act before the National Company Law Tribunal (NCLT), Hyderabad Bench. TS power utilities have approached the TS Electricity Regulatory Commission (TSERC) against the AP power utilities seeking APGenco not to approach NCLT for recovery of dues. “If there are no dues to APGenco, there is no need for TS Discoms to approach TSERC stopping us from approaching NCLT,’’ APGenco said.
Speaking to reporters in Hyderabad on Friday, Prabhakar Rao said Telangana was ready to reconcile the accounts with the AP within 24 hours if AP comes forward in this regard. He said perhaps the senior officials of AP power utilities failed to give proper information to the top AP government functionaries. Prabhakar Rao said though Telangana wrote several letters for the reconciliation of accounts between the two power utilities, AP had failed to come forward. Instead, AP approached NCLT.
“When any company is in losses, then a case will be filed before NCLT. It means that AP is intended to take over control of TS power utilities,” Prabhakar Rao commented.
“APGenco preferred legal recourse by approaching NCLT under insolvency and bankruptcy code, 2016 to settle the power purchase dues of TS Discoms ignoring the amount receivable from AP power utilities. In fact, TS power utilities have to get Rs 2,406 crore from AP. As pleaded before the NCLT by APGenco, if the petition is admitted and the NCLT appoints an insolvency resolution professional (IRP), the management of Discoms will be entrusted to the third party i.e., IRP,” he said.
According to Prabhakar Rao, post bifurcation of the State, the net receivable amount from AP power utilities to TS power utilities is Rs 2,406 crore.
Categories: General News