The state run National Thermal Power Corporation ( NTPC ) tells Supreme Court (SC) that the company has not received payment to the tune of Rs 900 crore from Anil Ambani group owned Bombay Suburban Electric Supply (BSES). They said that Tata owned distribution companies (discoms) are making regular payments and it is only BSES which is in default. While BSES says, they have complied with Supreme Court's order on payments reports CNBC-TV18's Ashmit Kumar.
This whole controversial issue began when BSES defaulted in certain payments that had to be met to the power producer NTPC. NTPC claims Rs 900 crore is payable by BSES.
In March 2014, SC had come out with a clear order directing BSES to make the payments of Rs 900 crore, beginning from January 1 to about March 31 but NTPC claims that the money has not come in so far.
And in response to that NTPC had made a sort of declaration that in case the money does not come in, it handicaps the company to source coal which in turn handicapped the power production capacities, and hence the NTPC began hinting at possible power cut situation that are likely to see in Delhi.
Also read: NTPC's 50 MW solar power plant at Rajgarh fully operational
The Delhi government also hit out at the Anil Ambani group, which owns BSES saying that they are owed a sum of about Rs 4,500 crore, while that the Tata owned discoms have been making regular payments. So, it only happens to be BSES companies who are in a mess of their own making and who have not been able to make those payments.
The BSES responded to these claims in a strong manner saying that they have indeed paid a sum of Rs 600 crore and that they have complied with the SC order but there was an issue with respect to the audited accounts that they have submitted before different agencies.
DERC, the regulatory agency for electricity here in Delhi, made a statement that the audited account submitted to DERC is at variants to the accounts that were submitted before court. They also made allegations that not enough equity infusion has been made into the BSES which has hurt operations as well as the borrowing capacity.
Therefore, at this point a lot of back and forth with respect to the numbers that are being thrown around; about not only the money that is payable but also the amount that is due and also amount that has already been paid. So, the SC has instructed all these different parties, the stakeholders to sit together and to come at a consensus and to arrive at a solid figure on the total amount that is payable and the money that has been paid so far.
BSES will be submitting its reply on Monday and we are likely to see more fireworks next week on Tuesday. That is when we might see more arguments from the different parties.
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