Deccan Chronicle

AP gets HC notices for not paying TSGenco dues

Deccan Chronicle.| dc correspondent

Published on: June 13, 2022 | Updated on: June 14, 2022

TSGenco seeks HC to restrain Centre from taking coercive steps

Telangana High Court (Image: DC)

Telangana High Court (Image: DC)

Hyderabad: The Telangana High Court on Monday issued notices to the Andhra Pradesh government, Power Generation Corporation (APGenco) and its Pension, Gratuity Trust and Provident Fund Trust to respond on a petition filed by TS Power Generation Corporation (TSGenco) and others, claiming a due amount of Rs 4,774 crore from the former companies, in respect of pensions, bonds and others.

The TSGenco and its Provident Fund, Pensions, Gratuity Trust filed a petition before the High Court complaining that the APGenco and the its trust were not transferring the Employees Trust Funds , FRP bonds, excess loans discharged by TSGenco and investment in the equity of AP Power Development Corporation Limited (APSPDCL), which was totalling Rs 4,774 crore.

TSGenco mentioned that the APGenco Trusts were due Rs 2,172 crore to its trusts. It also mentioned that it had paid excess liability of Rs 549 crore in the common loans category, which became Rs 972 crore now along with interest.

Apart from that, it claimed Rs 882 crore from the APGenco for its share in the FRP bonds, which were now retained by the latter, and Rs 748 crore from Krishnapatnam thermal plant.

Only assets and liabilities in earlier headquarters were bifurcated, but not the trust funds, TSGenco mentioned in its petition. It also requested the High Court to issue directions to the Union government not to take any coercive steps against it for its liabilities to the electricity distribution companies.

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