HYDERABAD: Refuting the allegations of AP government that the TS power utility had to pay Rs 5,000 crore to AP power utility, TS Transco and Genco Chairman and Managing Director D Prabhakar Rao said that after the adjustment of dues between the two power utilities, it is TS that should get Rs 2,406 crore from AP. Speaking to reporters here on Friday, Prabhakar Rao said that Telangana was ready to reconcile the accounts with the AP within 24 hours, if the AP came forwarded for the same.
During the war of words between two State governments following the data theft case, the AP leaders including Chief Minister N Chandrababu Naidu alleged that the TS evaded payment of Rs 5,000 crore to AP power utility.
Taking this comment seriously, Prabhakar Rao said that perhaps the senior officials of AP power utility failed to give proper information to the bigwigs of AP.
Prabhakar Rao said that though Telangana wrote several letters for the reconciliation of accounts between the two power utilities, the AP failed to come forward. Instead, the AP approached National Company Law Tribunal (NCLT).
“When any company is in losses, then a case will be filed before NCLT. It means that the AP is intended to take over control of TS power utilities,” Prabhakar Rao commented.
“The AP Genco preferred legal recourse by approaching NCLT under insolvency and bankruptcy code, 2016 to settle the power purchase dues of TS Discoms (power distribution companies) ignoring the amounts receivable from AP power utilities. In fact, TS power utilities have to get Rs 2,406 crore form AP. As pleaded before the NCLT by AP Genco, if the petition is admitted and the NCLT appoints an insolvency resolution professional (IRP) the management of Discoms will be passed onto third party i.e., IRP,” Prabhakar Rao said.
According to Prabhakar Rao, post bifurcation of combined AP, the net receivable amount from AP power utilities to TS power utilities would be Rs 2,406 crore.When the AP filed a case before the NCLT, CM K Chandrasekhar Rao wanted to pay the amounts to AP, if there were any dues by TS. “I have informed the Chief Minister that in fact the AP is due to Telangana,” Prabhakar Rao said.He recalled that the AP did not take 619 employees of power utility, who opted to join AP.
“Even as the Nagarjuna Sagar Dam is under the control of Telangana, the power houses are in the control of AP. We have asked the AP to give administrative control over tail pond power houses. So that the TS could generate power through reversible pumping system and could save Rs 300 crore. But, the AP is not cooperating with us.”
“As per population ratio, the TS has to get 75 MW power from Machhakund and TB dam. But, the AP is not sharing the same with TS,” Prabhakar Rao said. He also said that the TS paying Rs 400 crore loan for the tail pond power houses. The loans to the tune of Rs 1,600 crore raised for Kurnool and Ananthapur were being serviced by the TS.