Report of Indian Institute of Public Administration ... - Ministry of Power

Maharashtra
Particulars
Government of Maharashtra
loans
Private bonds (State Govt.
guaranteed)
Table: Liabilities Adjustments
MSEB prerestructuring
10.19
(Rs crore)
*These three items pertain to Dabhol related loans and are proposed to be taken
over by Government of Maharashtra.
i) The proposed restructuring adjustment of Rs 3,358 crore of capital
liabilities/long-term loans is presently parked in MSEB holding company.
ii) Loans from Government of Maharashtra to MSEB (Rs 2,742 crore) up to 5 June
2005, have been utilised in meeting restructuring write-off requirements and setoff
of accumulated losses of MSEB.
iii) Project specific loans have been allocated to the relevant companies on the basis
of end use.
iv) Common loans of Rs 1,642 crore are allocated in a ratio of 31:37:32 to
generation, transmission and distribution companies.
With the above adjustment of Rs 3,358 crore taken over by Government of
Maharashtra, the capital liabilities of the four companies are as under:
Table: Capital Liabilities
(Rs crore)
Particulars MSEB MSPGCL MSETCL MSEDCL MSEB
(HC)
Capital
liabilities
9,279 1,832 2,204 1,885 3,358
Current Liabilities of the Four Companies
Restructuring
adjustment
The following adjustments in current liabilities have been proposed:
MSEB post-
restructuring
2742 (2742) -
1417 (261)* 1157
PFC 2370 (205)* 2165
Loans from banks 533 (150)* 383
Total adjustments (3358)