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GENERATION UNDERTAKING
GENCO - (INDRAPRASTHA POWER GENERATION COMPANY LIMITED)

PART - I

   
 

Unless otherwise sspecified by the Government the Generation Undertaking shall comprise of all the assets, liabilities and proceeding concerning Generation consisting of :

   
I. POWER STATIONS :
   
i) THERMAL
a)

INDRAPRASTHA POWER STATION : with capacity of 1 Unit of 36.6 MW, 3 units of62.5 MW and 1 unit of 60 MW capacity each with all associated and related equipment such as generators, turbines, boilers, condensers, electrostatic precipitators, controls and instrumentation, railway sidings, coal handling system, ash handling system, ash pond, raw watersupply and treatment system, DM water plant, secondary fuel oil storage facilities and its handling system, switch yards including step up transformers, service transformers, auxiliary unit transformers circuit breakers, HT & LT Switchgears, control and protection system, over head cranes, RCC chimney, a brick manufacturing plant for 3 lacs bricks per day, stores, spare parts, consumables, raw materials etc. and work in progress.

b)

RAJGHAT POWER STATION : with 2 units of 67.5 MW capacity each with all associated and related equipment such as generators, turbines, boilers, condensers, electrostatic precipitators, controls and instrumentation, railway sidings, coal handling system, ash handling system, ash pond, raw watersupply and treatment system, DM water plant, secondary fuel oil storage facilities and its handling system, switch yards including step up transformers, service transformers, auxiliary unit transformers circuit breakers, HT & LT Switchgears, control and protection system, over head cranes, RCC chimney, a brick manufacturing plant for 24000 bricks per day, stores, spare parts, consumables, raw materials etc. and work in progress.

c)

GAS: GAS TURBINE POWER STATION : with installed capacity of 6 units of 30 MW each and 3 units of WHRU of 34 MW each with all associated equipment viz. gas turbines, steam turbines, generator transfomer, heat recovery steam generator, control and instrumentation, HSD/Naptha storage facilities along with all the associated auxiliaries, Stores, spare parts, consumables, raw materials etc. and work in progress.

 

 

II. GENERAL ASSETS/LIABILITIES:
 

Special tools and equipment, material handling equipment, earth movers, bulldozers, concrete mixtures, cranes, trailers, heavy and light vehicles, furniture, fixtures, office equipments, air conditioners, refrigerators, computers and signal systems, spares, consumables, raw materials , civil works installations including roads, building, dispensaries, testing laboratories and equipment, training center, workshops, machinery and equipment sent for repairs, scrap and obsolete materials and work in progress.

   
III.

OTHER ASSETS :

 

Other assets immovable and movable properties including buildings, plant and machinery, motor car, jeeps, trucks, cranes, trailers and other vehicles, furniture, fixtures, office equipments, air conditioners, computers etc. to the extent they are utilized in, operated by or associated with the assets tranferred to under items I and II, along with the residential colonies and properties like shops etc. situated in the colonies as per the order No.F.!!/99/2001 - Power/PF-III/2828 dated 13th November, 2001 of the government to above shall also form part of generation undertaking.

PROVIDED THAT notwithstanding I, II and III above and that the land was being used immediately before date of the transfer exclusively or primarily for the business of the transferee, no part of the land shall form part of the assets transferred under these rules. The transferee shall be entitled to use such land as a licensee of the government on payment of a consolidated amount of one rupee only per month during the period the transferee has the sanction or licence or authorization to undertake the generation business. As and when such licence or sanction or authorization is revoked or cancelled or not renewed or the area of supply where the land is situated is withdrawn from the transferee, the licence to the transferee in respect of such land.

   
IV.
MISCELLANEOUS :

1.

Contracts, agreements, interest and arrangements.

2.

Loans secured and unsecured to the extent to be sspecified in Balance Sheet Part -II, subject to adjustments as per the notes of the Accounts of the Balance Sheet of the Transferee.

3.

Cash and bank balance to the extent to be sspecified in Balance Sheet Part-II, subject to adjustment as per the Notes of the Accounts of the Balance Sheet of the Transferee.

4.

Other current assets to the extent they are exclusively or primarily associated or related to Generation Activities tranferred to in items I to III above.

5.

Current and other liabilities and provisions to the extent to be sspecified in Balance Sheet -Part II, subject to adjustments as per the Notes of the Accounts of the Balance Sheet of the Transferee.

6.

Proceeding to the extent they are exclusively or primarily associated with or related to Generation activities or undertaking or Assets tranferred to in items I to III above.

 
Part - II
 
Liabilities
Assets
Long Term Liabilities Fixed Assets

Authorised, issued, subscribed and paid up 140,000,000 shares of Rs. 10 each infavour of holding company

140

Gross Fixed Assets

510
Secured Loan payable to Holding Company 210 Less : Accumulated Depreciation

160

Total 350 Net Fixed Assets 350

Current Liability

Current Assets
Payable to Holding Company 49

Receivables due from TRANSCO

42

Other Current Liabilities 42

Cash and Bank Balance

9

Total 91

Fuel Stock

26

Spares and Stores

12

Loan to personnel

2

Total

91

Total Liabilities 441 Total Assets

441

 

 
Notes to Accounts

On the date of transfer GENCO shall have the opening balance sheet mentioned in this part as adjusted for the following :

 
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1.

The cash and Bank balances shall be adjusted by infusion or withdrawal of funds by Holding Company so as to ensure that the balances are as mentioned in the Balance Sheet in the schedule.

2.

The value of Stores and Spares and Loans to Personnel shall be adjusted to reflect the actual book value as on the date of transfer. In case the actual book value of these items is more than the value mentioned in the Balance Sheet in this schedule, there shall be a corresponding increase in the current liability payable to the Holding Company. A decrease in the value of such items will be followed by a corresponding decrease in the current liability payable to Holding Company.

3.

GENCO shall undertake to repay the loan payable to Holding Company mentioned in this part, within twelve years from the date of transfer with a moratorium for the first three years on both interest and principal repayment. Thereafter the loan would carry interest at the rate of 12% per annum and would be repaid in eighteen equal half yearly installments from the date of transfer.

4.

GENCO shall undertake to repay the current liability payable to Holding Company mentioned in this part, within one year in twelve equal monthly installments.