• PAGE ONE
• INDEX
• HOME

Maharashtra to press BSES payment: Tata

Our Bureau

MUMBAI, Aug. 10

MR. Ratan Tata, Chairman, Tata Electric Companies, today said that the Maharashtra Government is taking steps to enforce its order asking BSES Ltd to pay up standby charge dues of Rs. 159.5 crores to TEC.

At the annual general meeting of TEC here today, Mr. Tata told shareholders that he could not ascertain the implications of the State Government's levy of an additional 10 paise on every unit of power supplied by TEC and BSES as the formal order is yet t o be received and the exact terms known. However, he said that the Government is likely to permit the company to pass the additional burden on to the customer.

To a shareholder's query on the Tatas taking a stake in the Mangalore Power Company, he replied that at the moment talks were on for a 30 per cent equity holding which would cost about Rs. 520 crores.

Meanwhile, in a press release issued in the evening, TEC refuted ``some press reports'' that it had failed to come to the rescue of BSES when it was having problems with its plants that caused power shortage in the suburbs over the past few days.

``TEC's full support to BSES continued till one of its units commenced generation on August 9. Even today, the BSES continues to draw full support from TEC for its balance requirement,'' the release said.