Government should withdraw bail-out package

Government should lodge criminal case against the power companies who are misrepresenting profit as loss before DERC - BJP

In view of the recent report of the DERC indicating profit by the two Reliance Companies which have shown loss for getting bail-out package, BJP has demanded the DERC and Delhi Government that they should lodge case of fraud and forgery against the power companies which have submitted forged accounts before the DERC.  The bail-out package given to the power companies should be taken back with interest.

          BJP Delhi Pradesh President Shri Vijender Gupta told that the DERC had given orders to all the three companies given bail-out package to submit their regular monthly accounts in the office of DERC.  The DERC in its preliminary examination of the accounts of BSES Rajdhani & BSES Yamuna, the Reliance infrastructure companies found that the information given by the two companies about the purchase of power is full of discrepancies and in place of submitting clear datas about purchase of power the case has been complicated.

          After bail-out package of 500 crore rupees given by the Government to the companies, the DERC had issued orders that the power supply companies should pay 3000 crore rupees to the power producing & transmission companies by the 1st February, 2012.  If the dues are not paid to the production and transmission companies then stern action will be taken against both the companies.

          Referring to indicators in the accounts and the balance with the companies submitted by the power companies the DERC has said that the accounts indicates that after September 2011 both the Reliance Companies had sufficient fund to pay the dues for the purchase and transmission of power.  Yet they did not pay and showed loss in their accounts and also demanded increase in the power tariff. The Government allowed 22% increase in tariff.  Yet they are showing loss.