NEW DELHI: Delhi's power regulator DERC has found certain "discrepancies" in the audit report of Reliance Infrastructure-backed discoms BRPL and BYPL between April and December 2011 and observed that the financial condition of the companies appeared not as bad as it has been made out to be.
The Delhi Electricity Regulatory Commission (DERC) last month had asked the discoms to submit a detailed account of their monthly revenue generation and expenditure since April 2011 so as to keep a tab on their accounts.
"The Commission has also noticed that there are prima-facie unexplained discrepancies in the information relating to power purchase by both BRPL (BSES Rajdhani Power Ltd) and BYPL (BSES Yamuna Power Ltd)," the DERC said in an order.
Last month, BYPL and BRPL had expressed its inability to clear dues to the tune of Rs 3,000 crore to various power generation and transmission companies citing severe fund crunch which led to possibility of widespread power cuts with NTPC threatening to cut supply to the city.
Although the city government initially refused to help the discoms, later it agreed to infuse fresh equity of Rs 500 crore into the company considering the gravity of the situation. Delhi Government has 49 per cent share in the two discoms while Reliance Infrastructure has 51 per cent share.
After the government agreed to offer the financial help, DERC had asked the BYPL and BRPL to provide month-wise details of revenue generation and expenditure since April 2011.
The regulator also strictly told the discoms to pay its outstanding dues to the power generation and transmission utilities by February one and threatened to take action if it fails to comply with the directive.
with thanks : Economic Times : Link
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