Reliance Group-owned power distribution company, BSES, has dragged State-owned NTPC to Supreme Court against the latter’s notice threatening to cut off power supply on account of outstanding dues. The court will hear the matter on Friday.
On an urgent mention made by BSES counsel, the bench headed by Chief Justice P Sathasivam decided to list the matter for hearing on Friday along with a connected case. NTPC last week issued notices to BSES Rajdhani and BSES Yamuna on issue of payment security mechanism and non-payment of outstanding dues to the State-run company. NTPC had on February 4 said it was in trouble and unless its dues are cleared, the company may have to stop power supply to these discoms. NTPC Chairman and Managing Director had said if they were not paid in time, they will have to regulate nearly 2,000 MW of power. These bills, due to BSES Rajdhani and Yamuna, are for the amount of power consumed in December and billed in January to be payable by the end of January.
NTPC said that currently there was no letter of credit available for two companies. BSES Rajdhani’s last letter of credit was encashed on January 31, leaving a shortfall of Rs 27l.61 crore. There is a payment shortfall of Rs 96.07 crore on BSES Yamuna.