The AP-Genco is preparing to make a fresh bid to recover its dues amounting to nearly ₹5,750 crore from the northern and southern discosm of Telangana when the case pertaining to it comes up for hearing at the Hyderabad bench of the National Company Law Tribunal (NCLT) on May 10.
The Advocate-General of Andhra Pradesh has completed all submissions on behalf of the AP-Genco, to which the Telangana utilities have to pay the above sum for the power supplied by the generating stations in A.P. before bifurcation. The AP-Genco approached the NCLT, demanding that the Telangana Discoms settle its dues without linking it up with the distribution of the power sector Assets & Liabilities (A&L) between A.P. and Telangana as it would take a long time. AP-Genco Director (Finance) G. Adinarayana told The Hindu that the apportionment of A&L as per the A.P. Reorganisation Act, 2014, was a lengthy procedure as the matter had to be referred to the Union Ministry of Home, which would then send it to the Ministry of Corporate Affairs (MoCA). The next step was for the MoCA to issue directions to the Registrar of Companies to take necessary steps.
It would be a costly wait for the AP-Genco, which insisted that, being a revenue matter, the case be dealt with expeditiously by the NCLT.
As of now, the Telangana utilities owed over ₹600 crore towards interest over and above the principal amount.
AP-Genco should reply to any issues the lawyers arguing for the Telangana Discoms might raise.
Allocation of staff
Meanwhile, Justice (retd.) D.M. Dharmadhikari, who was appointed by the Supreme Court to oversee the allocation of State-cadre employees between the A.P. and Telangana utilities, was learnt to have called for a meeting of the Sub-Committee, comprising AP-Genco Director (Finance) G. Adinarayana and TS-Genco Director (HR) S. Ashok Kumar, for taking stock of the situation in the last week of May.
Employees of the A.P. power utilities had already been asked to give their options against the backdrop of a petition filed by the employees in Telangana in the apex court on April 23 seeking further clarity on the modalities finalised by the Dharmadhikari committee.